The club has reportedly a debt of £716.5million, but there is money available for Fergie to spend.
“Without doubt,” he said. “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 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.”