Fergie firm on transfer fees

The United boss has identified three potential targets with which to bolster his squad, with Owen Hargreaves, Dimitar Berbatov and Gareth Bale among the names who have been most strongly linked with the Old Trafford outfit.

But the Scot has insisted United will not pay outlandish sums in order to get them, saying: "We know our values and that is important. It is what we are prepared to go to that will be tested."

Ferguson disputes the claim that being champions will make United a more attractive proposition than they had been following three barren years, claiming Old Trafford never stopped being a destination of choice for some players.

However, he acknowledges the vast resources available to Jose Mourinho at Chelsea makes them formidable opponents to overcome in the transfer market, which is why Ferguson is keeping the identity of the players he wants close to his chest.

"Next season we can expect Arsenal, Liverpool and, certainly, Chelsea to strengthen," he said.

"I do feel my squad will get better but we have still outlined three targets for the summer, which (chief executive) David Gill is aware of.

"As everyone knows, there is competition for the best players and competition brings cost, so we will have to see what happens.

"Manchester United has always been an attraction. We have 76,000 people watching us every week and have a celebrity status which means we are known throughout the world. But the real competition comes when Chelsea pay £27million for someone like Michael Essien.

"They can outbid us all, which is why we identify players as quietly as we can so we can do things quickly. It is not easy, but that is what we are trying to do."