Carlos Tevez joins Manchester City in £64m deal as Fergie blasts stupid spending

Carlos Tevez joined Manchester City last night in a staggering £64million deal as Sir Alex Ferguson claimed the transfer market had lost touch with reality.

Tevez, who will undergo a medical this morning before completing his deal, signed for £25m and has agreed a five-year contract worth £150,00-a-week.

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That means Tevez will earn £39m in wages which, when added to the fee City have paid for him, takes the total package to an incredible £64m.

And Tevez's former boss Fergie blasted City and Real Madrid for distorting the transfer market by paying crazy prices for players this summer.

United were unable to sign Tevez on a permanent basis because they were not willing to meet his £25m valuation which was set by the striker's advisers.

And Fergie said United were priced out of a move for Lyon's Karim Benzema because they were not prepared to match Real Madrid's £38m fee for the striker.

With mega-rich City and Real seemingly willing to spend whatever it takes to sign the players they want, Fergie said player valuations had spiralled out of control.

"I said that a year ago, with the takeover of Manchester City," said Fergie. "I don't think any of the transfers are realistic.

"Some of the values across the world now are amazing, the ones that get tossed about. The values of players have shot sky-high.

"For some reason it's caught fire this summer and it's unusual and very difficult to get value because of that.

"I can only placate our fans in one way. And that's by not being stupid.

"We have a wonderful sum of money from Real Madrid but we're not going to throw it away and spend it in situations when an extra zero is being placed on the end of transfer fees.

"As far as we were concerned Benzema was beyond our value. People have got to try and put a value on players which they think is fair.

"Lyon have done well to get what they did for him. But what does that tell people about Manchester United? It tells you we're sensible."

Tevez's arrival at Eastlands has taken City's spending through the £200m barrier since Mark Hughes took over a year ago, the billions of owner Sheikh Mansour making it all possible.

And City are determined to continue spending big, with a £30m bid for Chelsea skipper John Terry still on the table and plans to sign Arsenal's £20m-rated striker Emmanuel Adebayor.

Fergie also accused Tevez and his adviser, Kia Joorabchian, of doing a deal with City behind United's back as early as January.

The United boss claimed Tevez ignored his repeated efforts to contact him, knowing he already agreed to a move to City.

"I half expected that a long time back," said Fergie.

"I think maybe they did a deal maybe around January because I spoke to him and gave him an offer on the night of our game with Inter Milan and he never came back to me.

"I phoned him on holiday - he never came back to me. I texted him twice - he never got back. Obviously he had made his mind up.

"But it was a good arrangement to have. He was a good player for us. He had two years to assess us but he wanted to go somewhere else."

City boss Hughes was delighted to sign Tevez and said: "Carlos is an international player of the highest class who possesses all the attributes that will help drive this club forward.

"He is not only outstanding technically but he is a reliable goal scorer and someone who will contribute fully to the team ethic. He gives us another exciting, attacking dimension.

"I cannot wait to welcome him to City. This is yet another deal that shows the commitment of the owner Sheikh Mansour to make this club the very best it can possibly be."

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