Ferguson amazed at rivals` "kamikaze" spending sprees

London: Manchester United manager Alex Ferguson said on Tuesday he was amazed at the "kamikaze" spending of some of his rivals.

"Over the last two or three years we have seen very wealthy owners become part of football clubs and therefore go on this kamikaze effort to spend their money," Ferguson said.Ferguson, whose own spending during the transfer window has been a relatively modest 20 million pounds (USD 31.24 million) compared to the 120-million-plus splashed out by neighbours Manchester City, did not name any club. "It is amazing the amounts of money that are being bandied about in the present-day game," he told a news conference at Old Trafford where United presented new young signings Chris Smalling, Bebe and Javier Hernandez. "Some people may think it could be dangerous. But if they have that kind of money, they are certainly using it." "I don`t see it abating. The kind of spending we are seeing at the moment will be here for two or three years, until such time as they understand you can`t necessarily achieve all the time by spending."Ferguson has spent large amounts of money on players in the past but said that investment in younger players was far more beneficial to United now. "Young players develop if you are looking after them properly," said Ferguson. "They do have a loyalty because they appreciate the education you give them as coaches. How we treat players is important. It is difficult to know what other clubs think. We are just the type of club who can do it." "The foundations of this club were built on young people, going back to the 1950s. It has not really left." "Maybe the difference is that other clubs don`t have the consistency in manager and staff that Manchester United have." United spent a club-record fee of 30.75 million pounds on Dimitar Berbatov two years ago and with players like Ryan Giggs, Paul Scholes, Gary Neville and Edwin van der Sar all nearer the end of their careers than the beginning, Ferguson did not rule out buying big in the future. "There will be a time when we have to buy a more mature player," he said. Bureau Report