Alex Ferguson Reads Manchester City Riot Act over “Kamikaze” Spending

This takes Robert Mansini’s City spending spree to a massive 130 million pounds.

Many City also unveiled Mario Balotelli, their 22.5 million pound striker who has transferred from Inter Milan. His arrival means that their super wealthy Arab owner, Sheikh Mansour bin Zayed Al Nahyan has forked out almost 325 million pounds since taking over two years ago.

Manchester United boss, Ferguson has only spent 25 million pounds this summer.He believes the new breed of billionaire owners will continue to drive up prices.

He said "Over the last two or three years we have seen very wealthy owners become part of football clubs.”

"They go on this kamikaze effort to spend their money.”

"It is amazing the amounts of money being bandied about.”

"I don't see it abating. I think the kind of spending we are seeing will be here for two or three years.”

"Or until such time as they understand you can't necessarily achieve all the time by spending.”

Ferguson did not name City or their players despite Yaya Toure being on a reported salary of 220,000 pounds per week.

Ferguson’s summer buys, Javier Hernandez, Chris Smalling and Bebe were on hand when he spoke of exorbitant spending not necessarily being the way to building a successful side.

He went on to say “We could have bought one or two players for a lot of money in the summer.

"But I didn't necessarily see they would make us really so much better."

Meanwhile, Manchester City have agreed to a compromise over Stephen Ireland’s demand for a 2 million pound payment and he has headed to Aston Villa for talks on a move to the Midlands.

Manchester City hope to announce the signing of James Milner today.

Their boss, Roberto Mancini said “Milner is a good player, an English player which is important.

"He can play in different positions."