Man Utd won’t match City spending: Fergie

Manchester United manager Sir Alex Ferguson has declared he isn’t concerned by new Premier League champions Manchester City’s ability to outbid him in the transfer market.

A day after being pipped for the title by fierce rivals City, Ferguson also announced on Monday veteran one-club midfielder Paul Scholes had signed a one-year contract extension with United.

“We know City are going to spend fortunes, pay stupid money and silly salaries. We know that happens. We can’t do anything about that,” Ferguson told United’s player of the year dinner.

“We are not like other clubs who can spend fortunes on proven goods. We invest in players who will be with the club for a long time, who will create the character of the club and the excitement for our fans.

“We are good at that and we are going to continue that way.”

Ferguson, who is believed to be targeting two stars from Borussia Dortmund’s successful Bundesliga title defence, Japanese international Shinji Kagawa and Polish star Robert Lewandowski, said there was no need for a large scale overhaul of his squad.

This despite finishing without a trophy, being knocked out of the Champions League at the group stage and letting an eight point lead over City in early April slip.

“We have set out our stall for certain players and we want to make sure the evolution continues at United,” said Ferguson.

“I have been at the club for 25 years and I have to maintain a certain standard that keeps us there all the time.

“We don’t always win it because we are always there, which is great credit to how we view things. But there is nothing materially wrong with us. I know there are some critics but we got 89 points.”

He welcomed the decision of Scholes to sign on for another year.

The 37-year-old came out of retirement in January and put in some excellent performances to earn himself another year at the only club he has played for and for whom he made his first-team debut in 1993.

“It has been done. He (Scholes) is staying,” Ferguson said.

“He knew he had made a mistake (by retiring). He now realises if he plays 25 or 30 games next season, they will be of real quality.

“I think this will be Paul’s last season. We know him very well. We have had him since he was a kid. We know how to use him.”

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