Ferguson says United have done all their shopping

Manchester United will not be signing any more players ahead of the new season after being priced out of the market for France striker Karim Benzema, manager Alex Ferguson said yesterday.

Ferguson, speaking at the presentation of his trio of new signings Michael Owen, Gabriel Obertan and Antonio Valencia, said he was satisfied with his close-season business, funded by the record £80m sale of Cristiano Ronaldo to Real Madrid.

"I think that has concluded our business this summer," Ferguson said.

"I think we are in the middle of a difficult summer in football where it is difficult to get value but I think we have got good value and this is the right way to go for us."

United have reportedly paid £19 million for their three new signings - £16 million to Wigan for Valencia and three million to Bordeaux for Obertan, while Owen arrived on a free transfer as he was out of contract having left Newcastle.

United had been interested in signing striker Benzema, who completed his move from Lyon to Real Madrid last week.

"As far as we were concerned it was beyond our value," Ferguson said in relation to Benzema.

"People have got to try and put a value on players which they think is fair. They (Lyon) have done well to get €42 million for him.

"What does that tell people about Manchester United? It tells you we are sensible. Everywhere, in England and Europe the value of transfers have shot sky high."

Winger Valencia has been touted as the replacement for Ronaldo at Old Trafford but the Ecuadorian believes he can win over the United crowd on his own terms.

"When I had my first conversations with United it was never said that I was coming here as a replacement for the previous no.7," he told reporters.

"Obviously, Cristiano did very well here but I have come here to do my job and do the things that I do well."