Gill: Ferguson can still use Ronaldo money

(GSM) – Sir Alex Ferguson still has the £80 million received from the sale of Cristiano Ronaldo if he wants to sign new players in the summer, according to Manchester United chief executive David Gill.

United’s owners the Glazer family counted the income from the Red Devils’ Portuguese star’s sale as profit last year. However, Gill said the cash is in the bank and can be spent by Ferguson.

On another note, Gill told the Red Knights, who are a group of wealthy United fans trying to buy the club from the Glazers, not to waste their time.

He told the Soccerex conference in Manchester, “We are looking at players all the time, the money from Ronaldo is sitting there in the bank account, we have been clear on that.

“But Alex has been very clear he is not going out to chase and overpay for a player just because everyone else thinks we should. He’s a Scot, he wants value for money.

“We have spent a lot of money on Chris Smalling (from Fulham) and that’s the sort of player we want to bring in – a young player who we feel will develop as a player and hopefully give us service for many, many years to come.

“Alex is very comfortable with it. He would not be shy in saying he wasn’t comfortable and we need to buy a player. We are a successful team and the way it’s moved on since Cristiano left after six very successful years with us demonstrated why he’s comfortable with what he’s got.”