Obviously they see what he does but I completely agree with @RedChip says, they've obviously not been that impressed.
My reply was to shamwow by the way, who claims Giggs is a promising young coach when he and the rest of us have seen NO proof of it whatsoever.
I'm not claiming that I know he is.
What I'm claiming is this:
1) I've only heard good things about Giggs' ability and I don't think I've ever seen anything negative. This to me would be a good sign. For some it seems to be a bad sign - which I think is silly.
2) It sounds like the club want to retain his services as a coach in some capacity - I take this to mean that they value his services.
Based on that evidence, I wouldn't argue against the club wanting to retain him and I strongly disagree with those who do disagree with the clubs actions - because it is them who have no evidence.
If they didn't offer him a job, I'd be disappointed but I wouldn't argue against it.