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Saturday, 11 May, 2002, 18:13 GMT 19:13 UK
Ferguson in Steele purchase
Alan Curbishley the Charlton manager talks to Sir Alex Ferguson the Manchester United manager
Ferguson (right) is already thinking of the new season
Manchester United boss Sir Alex Ferguson has wasted little time in beginning the rebuilding process at Old Trafford for next season.

Ferguson has swooped to sign young goalkeeper Luke Steele from Peterborough after the youngster impressed in a short loan spell in March.

The England Under-18 international has signed a four-year deal for an initial fee of 500,000, rising to 2.25m.

Steele spent a month on loan at Old Trafford earlier in the season and figured for the Red Devils in two reserve games.

Luke has got fantastic potential and he is the best goalkeeping prospect I have ever seen
Posh boss Barry Fry

Peterborough boss Barry Fry told Peterborugh's official website: "I have had several conversations with Sir Alex Ferguson and I visited their training headquarters in Carrington three weeks ago and spent three hours with him.

"However, it took us less than five minutes to sort the transfer out.

"It was a pleasure and a privilege to do business with such a fantastic club and arguably the greatest manager of all time, Sir Alex Ferguson.

"Luke has been at this football club from the age of nine and has played at every level.

"I have watched him develop in the six years I have been here. Luke has got fantastic potential and he is the best goalkeeping prospect I have ever seen at the age of 17."

See also:

11 May 02 |  England
Beckham signs new contract
11 May 02 |  Man Utd
Johnsen's Old Trafford exit
22 Aug 01 |  Man Utd
Irwin to leave Man Utd
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