Sir Alex Ferguson insists United have operated well on two levels this summer - in terms of the new faces acquired and the funds used to sign them.

Speaking at a triple unveiling, the boss declared the Reds had got "good value" in an inflated transfer market while importing a classic United blend of youth and experience in Gabriel Obertan and Antonio Valencia (aged 20, 23) and "old codger" Michael Owen (29).

"Everywhere in England and in Europe the players' values have shot sky high," said Sir Alex, commenting on market conditions.

"I don't think any of the (big money) transfers that you see happening are realistic but for some reason the market seems to have caught fire this summer. It is a very unusual summer and difficult to get value because of that.

"It's always been the case that Manchester United have to pay a bit extra. But this summer we were not prepared to do that because we have got some very good young players.

"There didn't need to be a kneejerk reaction to losing Cristiano Ronaldo. We did very well to keep him for six years. He wanted to go, and we allowed him to do that.

"We shouldn't panic because one or two players are leaving. I think we have a very, very good squad with good young players in all positions."

Sir Alex added that no further arrivals are imminent at United, declaring, "It's the end of our business, so forget all these stories about who we're supposed to be getting."