Sir Alex Ferguson has confirmed that Manchester United will not invest heavily in the summer transfer market, once again insisting that there is no value. It’s no surprise, the Scot has used the excuse since the departure of Cristiano Ronaldo a year ago despite solid evidence that United’s cash is earmarked for debt repayment.
“No wholesale buying is needed as we have a very good squad that just needs tweaking here and there,” said Ferguson, who has led United to ten defeats in all competitions this season.
“Looking at potential squad additions is an ongoing process – it is not just confined to a certain time of year – although we obviously don’t reveal our plans.
“We have some ideas at the moment but not many players will be joining the club. In any case, I think the transfer market prices have been terribly inflated over the last year.”
United spent around £20 million last summer on Gabriel Obertan, Mame Biram Diouf and Antonio Valencia while bringing £81 million into the club from Ronaldo’s record-breaking sale.
Recent analysis by JP Morgan assumes that United will use the majority of its £ 100 million cash reserves to pay down the Glazer family’s so-called Payment in Kind (PiK) debt.