Fergie sees no market value
Sir Alex Ferguson has reiterated Manchester United do not to buy big in the January transfer window.
By Elliot Ball
Last Updated: 08/01/10 1:32pm
Sir Alex Ferguson has reiterated Manchester United do not have financial concerns but claims there is no value in spending in the January transfer window.
Question marks have been large over United's funds since their summer business which saw the club sell Cristiano Ronaldo for a world record £80million fee only to outlay a fraction of that amount on new signings.
Claims have surfaced that the Red Devils are to refinance £175million worth of payment-in-kind notes that are currently attracting 14.25% interest by launching a bond issue totalling £600million to which both the club and owners have refused to comment on.
The mere suggestion is being taken as a sign that owners - the Glazer family - are in trouble, But Ferguson, who spoke out on the Glazers' behalf last month, is sticking to his stance that the reason the cash has not been spent is because he alone does not believe there is any value in the market.
"We have got the money. There is no question about that," said the Scot.
"I just don't see that player who can make a difference for us in terms of value or ability."
Ferguson is renowned for buying big during the January transfer window with the likes of Nemanja Vidic, Patrice Evra, Louis Saha and Andy Cole all arriving for vast amounts at the turn of the year.
The cases of Vidic and Evra are particularly interesting as both joined United with decent reputations but struggled badly during their early months at Old Trafford.
It was not until the following campaign that they began to show the talent that has seen them collect a hat-trick of Premier League titles and recognised as two of the best defenders in Europe.
Yet those deals are rare in the experience of Ferguson, who has already declared an opinion that new arrivals will be limited to Senegal striker Mame Biram Diouf, who was actually signed from Molde in the summer.
And nothing that has happened recently has changed that view as the United boss added: "That is still the case.
"I could never see any real diamonds. Now and again you get one.
"We struck lucky with Vidic and Evra. They turned out terrific players but it took them time to adjust.
"We bought Louis Saha during the window. He was a marvellous player but he got a lot of injuries. We also bought Andy Cole.
"These have been success stories for us. But you can't guarantee that in January.
"And when you are looking for players to play in Europe you are limited still further because of other teams' involvement in Europe. You can never be certain."