Manchester United will not splash the cash in January, insists Sir Alex Ferguson

Sir Alex Ferguson has revealed that Manchester United will not be in the New Year market for big-name signings – sparking fears that the £80million raised by the sale of Cristiano Ronaldo is about to be used to service the club’s spiralling debts.

The United boss insists he has taken the decision not to recruit players when the transfer window reopens in January because he can’t find value for money.

He spent less than £20m bringing in Antonio Valencia from Wigan and Gabriel Obertan from Bordeaux.

But Ferguson said: “I am in the same position now I was last summer.

“I just don’t see any value in the market.

“I have had a million names thrown at me and when I ask about the price I am told they are all valued at £50m.

“I just don’t see us doing any business in January.”