Ferguson's dilemma

Ferdinand's arrival has left Man Utd short of spare cash

By Howard Nurse BBC Sport Online football editor

Manchester United manager Sir Alex Ferguson has drawn up another shopping list.

His latest wish-list is for two new defenders and a striker - and he would like to fill his trolley in time to meet the Champions League deadline on 31 August.

But he has been told by chief executive Peter Kenyon that he must sell first to finance any further signings.

Although United are not hard up, the board is unwilling to raid the coffers again following the £29.3m record buy of Rio Ferdinand from Leeds.

Kenyon's transfer warning

Ferguson said: "We're not so well off that we can do a Real Madrid and just buy anyone. So if I want to buy two or three players I might have to sell.

"If I see the right players available I could do that. It's a buyers market at the moment and there are a few very good players available who you could get for a lot less than this time last year."

After the departures of Dwight Yorke, Ronny Johnsen, Denis Irwin and Ronnie Wallwork, the ex-champions' squad looks thin on the ground.

United are short in defence, especially with England right-back Gary Neville sidelined until at least September with a broken foot, and there is definitely space for a fourth striker.

Ferguson, who has indicated he will revert to a 4-4-2 system this season, has an embarrassment of riches in midfield with six top-class players fighting it out for just four places.

Flavour of the month Nicky Butt will partner captain Roy Keane in the centre, leaving David Beckham, Juan Sebastian Veron, Ryan Giggs and Paul Scholes battling for the other two places.

Veron has yet to prove himself at Man Utd

On the face of it, Beckham and Giggs look certain starters - but can Veron, who cost a massive £28.1m and has impressed in pre-season, realistically be left on the bench?

If Ferguson must sell to buy, it is virtually impossible to predict who might go given the manager's insistence that loyalty is life's most important trait.

Have your say: Who should Ferguson sell?

On the face of it, most people would say that selling the underachieving Veron back to Lazio and conjuring up several deals on the back of that would be the easy way out for Ferguson.

But the Scot is a determined man and he will be keen to prove wrong those who criticised the signing of Veron when the new campaign gets underway.

Scholes - like Butt, Beckham and Giggs - is very much part of the United family and with the transfer market generally subdued across the whole of Europe, it seems unlikely that any of the homegrown talent will slip away.

That leaves fringe players like Luke Chadwick, Quinton Fortune and David May looking over their shoulders, though the collective sale of that trio would barely raise £5m.

Perhaps Ferguson will do what he did at the start of last season - bring in an experienced defender on a free.

The gamble on Laurent Blanc never quite came off last season after Jaap Stam's shock departure, but somebody of that ilk would prop up United's fragile defence.

Ferguson has warned that ruthlessness must come before loyalty if United are to get back to their trophy-winning ways next season.

And that suggests that if somebody comes along with the right offer for one of his big midfield stars, Ferguson will act decisively and sacrifice one of his big-guns for the good of the team.

Beckham given Ferguson warning