Manchester United boss Sir Alex Ferguson may be forced to sell to buy in January. The Daily Express says Ferguson was yesterday left to count the cost of failing to get out of the group stages of the Champions League last season as Manchester United executive vice-chairman Ed Woodward reiterated he has nothing left in the transfer pot for January.

The club announced a post-tax profit of £23million but that included a £28m tax credit.

Woodward said: "The net player capital expenditure for the current quarter will be around £29m."

That means Ferguson has to find £4m in sales to fulfil a £25m-a-year net spend promise to shareholders when the company was floated on the New York Stock Exchange.