Wenger: Rio was overpriced

Arsene Wenger believes Manchester United paid £10m (€15.8m) too much for Rio Ferdinand following the England defender's £30m (€47.2m) move from Leeds.

The Arsenal boss says he would have liked to have had Ferdinand lining up in the Gunners' defence for the forthcoming season.

But he feels United smashed the British transfer record on a player worth only £20m (€31.6m).

Wenger said: "They have bought a great player but they have paid a high price for him. I'd like to sign Rio Ferdinand - but for £10m (€15.8m) less.

"But I'm not surprised United have the most expensive players in Britain, as that reflects their financial strength.

"When you have a lot of money in your pocket you buy expensive. And that's what they have done."

Wenger also fired the openings shots of this season's title race, claiming his all-conquering team have yet to peak.

"I don't think the team we have now has reached its full potential," he told the London Evening Standard.

And Wenger confirmed the Gunners do plan to raid the transfer market in the next month.

"The chances are that we will buy a midfielder before the start of the season," he added. "I haven't made up my mind yet who that will be."