United issued a statement announcing they had reached a mutual agreement with the player to terminate his contract following the 37-year-old’s explosive interview with Piers Morgan in which he criticised manager Erik ten Hag and executives at the club.
“I think both parties will be delighted now,” former team-mate Ferdinand told BBC One.
“He obviously did that interview with the mindset he wanted to get out the club as he wasn’t happy and he made it very clear.
“But I also think Ten Hag has got what he wanted. Both parties are happy. Move on. Next chapter for Cristiano Ronaldo.”
Asked where he thought the forward would go next Ferdinand added: “I think it depends on what the motivation is. Is it Champions League? Is it money?”
Former England captain Alan Shearer also suggested that Ronaldo had “got his wish” and will await his next destination with interest.
“He’s got his wish – it’s what he did the interview for,” Shearer added. “It was inevitable it was going to happen after that. It will be interesting to see if a Champions League (team) comes in for him.”
Burnley boss Vincent Kompany added: “I think in the end everybody loses except for perhaps the Manchester United manager – it is a problem that’s resolved and they will move on from this.”