Yes it would be fairy-tale for the club and Ryan it be successful as manager of United. But I have doubts if he is ready to take over as manager on a permanent bases right now. I assume that Ryan has completed his coaching badges now to manage in Premier League as he been rumoured that Swansea would like him as their new manager. Don't quote me on facts and figures on this Information I'm about give you, but I believe if you look at the history of the game there isn't many managers that have been successful as managers as they were as players, so if they have been highly decorated with medals or gifted/skilful footballer as player or even a club legend, so usually aren't as successful as managers at higher level of the game, maybe down in the lower leagues in pyramid system players who club legends etc. are more successful as managers.
For example Sir Alex Ferguson didn't have great career as player, Arsene Wenger didn't, Jose Mourinho didn't, even Pep (Josep) Guardiola wasn't household name really at Barcelona, there were bigger names in team when he played.
Yes Carlo Ancelotti did have high profile playing career plus high profile management career, but isn't many.
And for more examples Alan Shearer (Newcastle legend), Glenn Hoddle (Tottenham Hotspur legend) and Kenny Dalglish (Liverpool legend) oaky he did do well first spell. Bobby Charlton had a go at management at Preston North End at end his career, didn't last long. Bryan Robson had a go for while with Middlesbrough & W.B.A. but not managing now.
But again there are a few done well management for a short spell at club or managing a national side.
Pele never managed, Diego Maradona no good, Franz Beckenbauer brief spell as national head coach, Michel Platini again brief spell as national head coach, Johann Cyruff didn't do to bad Ajax & Barcelona for while.
So over all the ruling is better player usually not as good as a manager, but in very case.