Fergie: No stop to football spending in sight
Legendary football boss Sir Alex Ferguson believes that football clubs will continue spending big in search of success.
Spending in the summer transfer window among Europe's top-flight clubs smashed past the US$3 billion ($3.76 billion) mark. English Premier League sides led the way with a whopping £835m ($1.73 billion) spent on new players.
Ferguson's former side Manchester United were England's biggest spenders, shelling out around £150m on new recruits like Radamel Falcao, Angel di Maria and Daley Blind.
While he admitted that the amount of money being thrown about was "amazing", the 72-year-old, who retired last year after 26 years at the Red Devils' helm, thinks the the current model of spending isn't going to change any time soon.
Speaking after a two-day meeting involving Europe's top coaches at the Uefa heaquarters in Nyon, Switzerland, the Scot said: "My personal opinion is that it's never going to change, the world is progressing, and transfer fees with it, and I don't know if there'll be an end to it.
"Fortunately, I'm not at the hub of it nowadays. Certainly it's amazing, the amount of money spent nowadays."