Manchester United boss Sir Alex Ferguson has no-one to spend his £100 million transfer kitty on.

The Sun says the world-record fee for Cristiano Ronaldo will be paid by Real Madrid in full this morning but the massive injection of cash has put Alex Ferguson in an invidious position.

Fergie has lost his best player and, while he has splashed out £17m on Wigan's Antonio Valencia, there is still no one who can replace Ronaldo.

Real's response to Barcelona's triumphant treble has been a spending spree that makes United look more Sunday League than Champions League.

Worse, the fact they secured the signature of Kaka for £62m before they even tied up Ronaldo is the most damaging blow.

Knowing of Ronaldo's intention to leave this summer, United attempted to put in place a contingency plan which would have seen the Brazil midfielder move to Old Trafford.

They met and discussed terms with Kaka's father and agent, Bosco Leite, in March but the move failed to materialise.

Then Kaka signed for Real - who have also bought defender Raul Albiol - to kickstart a spree that has cost £155m so far.

Is there a silver lining for United? Not at the moment.