Manchester United boss Sir Alex Ferguson has launched an attack on Manchester City's "stupid" transfer spending. Ferguson insists City's mega spending won't alter their transfer policy.

"We know City are going to spend fortunes, pay stupid money and silly salaries. We know that happens. We can't do anything about that," the Scot told MUTV.

"We are not like other clubs who can spend fortunes on proven goods. We invest in players who will be with the club for a long time, who will create the character of the club and the excitement for our fans.

"We are good at that and we are going to continue that way."