United spending over - Ferguson

29 August 2009 04:41
Manchester United manager Sir Alex Ferguson says that he will not be making any late signings before the closure of the transfer window. Ferguson has signed Michael Owen, Gabriel Obertan and Antonio Valencia this summer to offset the loss of Cristiano Ronaldo to Real Madrid. But despite the defeat to Burnley, Ferguson says he has faith in his side. "We have the right squad and I trust them," Ferguson told United Review ahead of the clash against Arsenal. "It is an insult to suggest that I could lose my faith in my players." Despite being about £700m in debt, Ferguson has been told by chief executive David Gill that the £80m received from Real Madrid for Ronaldo can be used for squad reinforcements. Ecuadorian winger Valencia cost £17m from Wigan Athletic and Obertan arrived from Bordeaux for an undisclosed fee, while Owen was a surprise free transfer by the United boss. Big spending Real and local rivals Manchester City have inflated the global football market with lavish outlays this summer, but Ferguson insists no more money will be spent before the 1 September deadline. "The bulk of the £80m fee we got from Real Madrid is still there and seems to be burning a hole in the pockets of a lot of fans," he wrote. "But you don't suddenly scrap your transfer policy because of one defeat even if it was a bad one. "I have explained our strategy, based on my confidence in our squad with a few new faces and more eager beavers on the way up, and I have no intention of abandoning it."

Source: BBC_Sport