24 Jul 2009Manchester United 'do' have money to spend

Football Clubs News | Football Finance News | Football Leagues/ Association and Governance

Manchester United manager Sir Alex Ferguson will have money to spend before the end of the transfer window to bring some new personnel into the club, it has been stated.

Recent reports had suggested that Ferguson would not be heavily bankrolled to bring in new players, despite Cristiano Ronaldo moving to Real Madrid for a world record fee of £80 million.

However, a spokesman for Manchester United owners the Glazer family, Tehsin Neyani, has stated that football finance is available, despite the arrivals of Michael Owen, Gabriel Obertan and Antonio Valencia at Old Trafford in recent weeks.

Neyani said: "The manager has a significant amount of money to invest. We are talking about a net amount of about £60 million. That cash can be reinvested in the squad."

He added that little transfer activity has been carried out because Ferguson is still seeking the right players to purchase, who are reasonably priced and have the right mental attitude to represent the club.

Malcolm Glazer is the reigning English Premier League champions' owner, while Martin Edwards is the club's honorary president.

Written by Paul Roberts

© Copyright