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Fergie: Money not a problem for United
Published : 09 Jan 2010 14:08:33
UNITED'S strangulating debt is not choking Sir Alex Ferguson's team strengthening plans. The Old Trafford boss insists that despite the fact American owners, the Glazers have put the club in hock to the tune of around £700m, he has been give the go-ahead to spend whenever he wants. Interest payments on loans the family took out to take over United in 2005 are rocketing and heaping a huge burden on the club. The Glazers are reported to have been looking for potential investors to raise up to £600m through a bond issue. Investment banks have been charged with the task of looking at ways to ease the load. The Reds' annual turnover is such that the club are just about keeping their heads above water and managing to pay off the accrued interest. However, United fans are hugely concerned the Old Trafford financial situation is impacting on squad re-building. Support The world record £80m received from Real Madrid last summer for Cristiano Ronaldo remains untouched and Fergie is not expecting to be active in the remaining 20 days of the January transfer window. The Reds' support remains sceptical that the two are not unconnected. But Fergie insists it is his choice not to tap into the Ronaldo fund. "We have got the money. There is no question about that," said the United manager. "I just don't see that player who can make a difference for us in terms of value or ability. "I could easily have spent the Ronaldo money but I didn't want to do it because I couldn't see any value in the market. I can spend the money - it is there. "The fans' concerns are down to the fact that I haven't moved in the transfer market, but that's nothing to do with the Glazers or with our chief executive David Gill. "It's simply because I am not going to pay £50m for a striker who is not worth it. That is the kind of money they are talking for the best strikers who are around. "I have got all the money I need. The money is available for what I need. If I wanted to buy someone I could get the money. "I don't have any concerns about the financial situation. There is absolutely no issue at all with the club's finances. I have no issue at all. I am really confident about that." Fergie has made a few winter acquisitions but admits the January window is not an ideal shopping time. "I can't see any real diamonds," he added. "Now and again you get one. We struck lucky with Nemanja Vidic and Patrice Evra (who were signed in January 2006). January window "It took them time to adjust but they turned out terrific players. We bought Louis Saha during the window. He was a marvellous player but he got a lot of injuries. "We also bought Andy Cole during the window. He turned out to be a fantastic player for us. These have been success stories for us. But you can't guarantee that in January. "When you are looking for players to play in Europe it is limited because other teams' involvement in Europe. It is never a certain route to success." Fergie admits, however, that United remain vulnerable up front. The manager who pioneered the four-strong senior strike force in the late 90s has been operating with just three senior men in his attacking department. Wayne Rooney, Dimitar Berbatov and Michael Owen are supplemented by the raw teenage talent of Danny Welbeck and Federico Macheda. Ferguson accepts an injury to 15-goal top scorer Rooney could be crucial and backfire on his decision not to invest in another experienced forward last summer or this winter. "Yes, that is a possibility," he said. "It's true that we don't have great options, if Rooney were to get injured, in the sense that we don't have top quality like Ronaldo, who could play anywhere, of course. "But, still, we're not too bad. And I think everyone is missing the point, anyway, because the most important thing for this club is to get our centre-backs fit again. That is without a doubt." What do you think? Have your say.