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Fergie biding his time over transfers
Published : 23 Jul 2009 08:55:06
SIR Alex Ferguson has got cash to splash on transfers if he wants to ? but he won?t waste it on mercenaries. The Glazer family ? United?s owners ? have broken their silence over Fergie?s modest summer spending, saying that too many modern players are motivated by money rather than the desire to play for the Reds. Mega-rich City and Real Madrid have upped the ante with their money-no-object approach during the close-season, but the champions have declared Antonio Valencia (£16m), Gabriel Obertan (£3m), Michael Owen (free) and young Senegalese striker Mame Biram Diouf (undisclosed) will be their only signings. Glazer spokesman Teshin Nayani said: ?The manager has not been able to locate players that he believes fit the Manchester United mindset ? ones that are motivated to play for United. ?You don?t want to pay over the odds for players not willing to give their all. ?The manager has a significant amount of money to invest if he wants to. We do have debt service and carry a significant amount of debt but our interest payments are around £43.3m a year while our operating profit was £80m topped by an extra £25m from transfer profits. ?We are talking about a net amount of about £60m. That cash can be reinvested in the squad. The point is there is money coming in.? United has debt of around £700m following the Glazer?s purchase of the club five years ago, but Nayani says that has no bearing on Fergie?s decision not to spend all of the £80m generated by the sale of Cristiano Ronaldo to Real. ?Our operating profits are climbing and we continue to secure sponsorship deals. Our stadium is packed out and we have very good media revenues. On a normal business level, United is in a very strong position and, so far, unaffected by the economic downturn.? If you could spend the cash on one player, who would it be? Have your say.