Manchester United will not be signing any more players ahead of the new season after being priced out of the market for France striker Karim Benzema, manager Alex Ferguson said on Monday.
Ferguson, speaking at the presentation of his trio of new signings Michael Owen, Gabriel Obertan and Antonio Valencia, said he was satisfied with his close-season business, funded by the record 80-million-pound sale of winger Cristiano Ronaldo to Real Madrid.
"I think that has concluded our business," Ferguson told reporters at the club's Carrington training ground.
"I think we are in the middle of a difficult summer in football where it is difficult to get value but I think we have got good value and this is the right way to go for us."
United have reportedly paid 19 million pounds for their three new signings -- 16 million to Wigan Athletic for Valencia and three million to Girondins Bordeaux for Obertan, while Owen arrived on a free transfer as he was out of contract having left Newcastle United.
United had been interested in signing striker Benzema, who completed his move from Olympique Lyon to Real Madrid last week.
"As far as we were concerned it was beyond our value," Ferguson said in relation to Benzema.
"People have got to try and put a value on players which they think is fair. They have done well to get 42 million euros for him.
"What does that tell people about Manchester United? It tells you we are sensible."
Real have spent more than 200 million euros over the past month on bringing in Ronaldo, Benzema, playmaker Kaka and defender Raul Albiol, leading Ferguson to question the "value" clubs were getting in the current transfer market.
"Everywhere, in England and Europe the value of transfers have shot sky high and I don't think they are realistic," Ferguson added.
"I am never going to be stupid. I got a wonderful sum of money from Madrid but there was no way I was going to throw that away. I think we have got value."
Winger Valencia has been touted as the replacement for Ronaldo at Old Trafford but the Ecuadorian believes he can win over the United crowd on his own terms.
"When I had my first conversations with Manchester United it was never said that I was coming here as a replacement for the previous number seven," he told reporters.
"Obviously Cristiano did very well here and he was a good player but I have come here to do my job and do the things that I do well. I have a real desire to do well and I don't want to make any comparisons between him and myself."