Man United has reportedly turned down the chance to sign highly rated Valencia striker David Villa, due to his price tag. The Guardian claim that United were offered the player for a price believed to be in the region of £40 million, but the offer was turned down because of financial restrictions.

Man United are in around £716 million worth of debt but Man United manager Sir Alex Ferguson and Chief Executive David Gill have both repeatedly made it clear that money isn’t an issue.

Winger Cristiano Ronaldo was sold in the summer for a record breaking £80 million fee, Gill was quoted as saying in March that the money from his sale is available.

In March Gill was said: "The money from Ronaldo is sitting there in the bank account, we've been clear on that.

"But Alex has been very clear he isn't going out to chase and overpay for a player just because everyone else thinks we should. He's a Scot, he wants value for money.”

United may have turned down this offer but Gill has hinted that Sir Alex Ferguson and his team will bring in some new players in the summer. His message is to watch this space…

"We are planning for next season," Gill told MUTV.

"We have already bought Chris Smalling from Fulham and we are very excited about him joining us in July.

"Let's see what happens. Watch this space."

Yesterday it was announced that United would sign 21-year old Javier Hernandez in July if he is granted a work permit. If that is granted he would join Chris Smalling who will definitely sign for United in the summer.