Manchester United boss Sir Alex Ferguson has ruled out splashing the cash when the impending January transfer window re-opens, ending speculation that Spanish duo David Villa and David Silva will be Old Trafford bound come the New Year.

United have been linked to a host of top stars in and around Europe as the January transfer window is set to re-open for business.

Having acquired over £100million in transfer fees after selling winger Cristiano Ronaldo and striker Carlos Tevez to Real Madrid and Manchester City respectively, the Red Devils are not short of cash should they seek to strengthen their squad.

However, boss Sir Alex Ferguson has insisted that he will not foray into the transfer market in January as he is not willing to pay over the odds prices in an already inflated market.

"I'm in the same position as I was in the summer," he was quoted as saying by the Sun.

"There are a lot of players out there, all valued by their current clubs at £50million. Given the prices being asked, I just do not see the value,” he added.

The Scot was of course referring to Valencia duo David Villa and David Silva who have been heavily linked with a move to Old Trafford, despite Los Che insisting that they will not sell.

The Premier League champions have also been linked with a move for Everton youngster Jack Rodwell, who Fergie sees as an ideal replacement for the injury-prone Owen Hargreaves.