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Page last updated at 10:12 GMT, Thursday, 23 July 2009 11:12 UK

Man Utd can spend big say Glazers

Sir Alex Ferguson with Avram, Joel and Bryan Glazer. (Pic taken 2005)
The Glazers took a controlling share in May 2005

Manchester United's owners insist boss Sir Alex Ferguson has "significant" funds available and that they do not expect him to fritter them away.

United received £80m from Real Madrid for Cristiano Ronaldo but Ferguson has only spent a fraction of that money.

"The manager has a significant amount of money to invest," said spokesman Tehsin Neyani.

"We are talking about a net amount of about £60m. That cash can be reinvested in the squad."

United have so far kept transfer dealings to a minimum after selling Ronaldo for a world record fee.

606: DEBATE

They have acquired striker Michael Owen for free as well as winger Antonio Valencia, midfielder Gabriel Obertan and forward Mame Biram Diouf.

United had been linked with French striker Karim Benzema, Brazilian forward Douglas Costa, French playmaker Franck Ribery and Spain striker David Villa, but Benzema joined Real Madrid for £35m and United decided not to pursue the other trio.

United also missed out on securing the services of fans' favourite Carlos Tevez on a permanent basis.

Tevez has joined Emmanuel Adebayor, Gareth Barry and Roque Santa Cruz at Manchester City, with United's near neighbours having spent about £80m so far this summer.

However, Ferguson has stated he is happy with his squad and will not pay over the odds for new recruits.

"The manager has not been able to locate players that fit the Manchester United mindset," Neyani added.

"You don't want to pay for unmotivated players not willing to give their all."

There had been speculation a portion of the £80m transfer fee for Ronaldo would go on paying off part of the near £700m debt the club has acquired.

But Neyani insists the money is available despite the debt United have acquired as a result of the Glazers' takeover in 2005.

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

Tehsin Neyani - Glazer family spokesman

"We do have debt to 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," he said.

As well as having money available, Ferguson has been boosted by the news that midfielder Park Ji-Sung is set to sign a new contract.

Park's existing deal runs out at the end of the 2009-10 season, but chief executive David Gill said the 28-year-old was close to agreeing terms.

"In his time with us he's developed his technical and tactical abilities and done very well. He's become a very important player for us and had a fantastic career with us," Ferguson said.

Meanwhile, veteran midfielder Ryan Giggs insists United can cope with the departures of Ronaldo and Tevez and defend their Premier League title.

"Since I came into the team the likes of Bryan Robson, Mark Hughes, Eric Cantona, Ruud van Nistelrooy, Roy Keane and David Beckham have left the club," said Giggs.

"But that is what the manager is so good at - reshaping and re-energising the team.

"Carlos and Cristiano were great players but we move on. As players it's like ships in the night. You just get on with it."



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see also
Ferguson rules out more signings
13 Jul 09 |  Man Utd
Ronaldo completes 80m Real move
01 Jul 09 |  Man Utd
MPs raise fears over club debts
20 Apr 09 |  Football
Man Utd parent company makes loss
09 Apr 09 |  Business
Success boosts Man Utd finances
11 Jan 08 |  Business
Glazers rebuff Man Utd debt claim
09 Sep 07 |  Man Utd


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