Sir Alex Ferguson and Arsene Wenger both backed Kevin Keegan and Alan Curbishley's decisions to quit their jobs recently.
Within a week of each other, Curbishley walked away from West Ham and Keegan quit as boss of troubled Newcastle.
Both managers cited interference from above, and both Ferguson and Wenger hold them in high esteem for the decision to walk away.
The Manchester United and Arsenal bosses were speaking together as they were guest of honours at a dinner for the League Managers' Association Benevolent Trust and Fund.
"In the modern climate of young chairmen and very rich chairmen, you really need to be successful and you have to manage different things," Ferguson told Sky Sports News.
"I admire Kevin Keegan and I admire Alan Curbishley as they went on a matter of principle, the principle being they are not in control of their team any longer - players were trying to be sold over their heads and so therefore they walked because it is a matter of principle and I totally agree with them."
Wenger added: "The manager is the most important man at the club, if not why do you sack the manager if it isn't going well?
"I believe our [Wenger and Ferguson] luck is that we could work with our ideas, and I know if I lose a game I have to look inside as that is where I can find the solutions."
Money concerns
The two also spoke about the continuing investment in the British game, which has been highlighted by Abu Dhabi United Group's recent bid to take charge of Manchester City.
The group have claimed they will try and sign both Ferguson and Wenger's best players in Cristiano Ronaldo and Cesc Fabregas, and the Arsenal boss admits that big investment can destabilise the league.
"New people are coming in for different reasons," added Wenger.
"In England we had a generation of fans whose ambition was to buy the club of their dreams - those days are gone.
"Now people are coming in for different reasons, maybe money or glory.
"To have more money in the League is a good thing.....but the inflationary pressure of having too much money is destabilising for other clubs, it puts a huge pressure on their resources."
Ferguson also suggested that a club needed more than money to be a success.
"You can have as much money as you like but you can't buy every player," he said.
"There is no guarantee that money gives you the best team."
The two in the past have clashed, but they now seem almost close.
"There is a much better understanding and mutual respect now," said Wenger.
Ferguson concluded: "We've sat and shared a glass of wine and a meal on many occasions on coaching conferences in Geneva.
"We've both [got] great teams and have had incredible competition over the
last decade."
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