Ferguson: 'We could not afford to miss Rooney'

Manchester United boss Alex Ferguson has said his club "could not afford to miss" out on signing striking sensation Wayne Rooney - but that they would not have bid for him if Newcastle United had not.

"The potential he has shown in the last two years has been phenomenal. Manchester United could not afford to miss him," Ferguson said at a press conference today to unveil Rooney as United's new signing.