Sir Alex Ferguson is reluctant to spend big in the January transfer market.

Despite leaving the majority of the £80million he received from the sale of Cristiano Ronaldo to Real Madrid untouched, the Manchester United boss is refusing to be held to ransom.

"I'm in the same position as I was in the summer," said Ferguson.

"There are a lot of players out there, all valued by their current clubs at £50million. Given the prices being asked, I just do not see the value."

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