The appeal of bringing Ferguson's star power to the Irish Premiership is obvious, akin to the boost provided to the League of Ireland by former Chelsea winger Damian Duff's successful, if short, stint with Shelbourne in recent years.
A cult figure across two playing spells at Goodison Park thanks to both his goalscoring exploits and aggressive style - no player has ever received more than his eight Premier League red cards - the 54-year-old Scot instantly becomes the most recognisable face in the league.
Fans quickly had their own fun with the imminent appointment on Saturday, with erroneous reports of the seven-times capped Scottish striker being spotted everywhere from his prospective [new side's 1-0 win over Limavady](/sport/football/live/cjy56rk3zrg9t) to a local chip shop on the Newtownards Road.
Glentoran are no strangers to big names in the playing ranks having had the likes of Keith Gillespie, Nacho Novo and Niall McGinn plying their trade at the Oval in recent times, but it is different when such a presence is in the dugout.
Ferguson, after all, will have been the only applicant with spells as an assistant to the likes of Carlo Ancelotti, Rafa Benitez and Ronald Koeman on his CV.
In all, the Scot worked under seven different permanent bosses at Everton, as well as two separate stints in interim charge.
After leaving Merseyside following the departure of Frank Lampard in 2022, managerial roles at Forest Green Rovers and Inverness Caledonian Thistle were hardly considered a success, admittedly both in testing circumstances.
Coupled with his unfamiliarity with the Irish League and, for all the headlines already generated, there is no doubt that the left-field appointment is a gamble.