Paul Scholes signs one-year contract extension with Manchester United as Sir Alex Ferguson slams City's 'stupid' spending

JUST ONE MORE: Scholes signs for United

By Dean Wilkins

Paul Scholes is committing to Manchester United for another year after signing a contract extension after Sir Alex Ferguson slammed City’s ‘stupid’ spending.

The midfielder returned to the Old Trafford earlier this year after announcing his retirement from football at the end of last season.

But Sir Alex Ferguson tempted the 37-year-old to rejoin his squad and shined in an impressive comeback period.

Fergie told MUTV: "It has been done. [Scholes] is staying. Obviously ext season will definitely be Ryan Giggs' and Paul Scholes' last season, although I'm not so sure about Ryan because he defies age.

“But for Paul it will probably be his last year."

Ferguson’s decision to recall Scholes was controversial for some, for others it was a stroke of genius as United lost only one Premier League game the former England star played in – the Manchester City derby win at Eastlands.

The manager admitted that the Reds cannot compete with their rivals and newly crowned Premier League champions in the transfer market.

"We invest in young players,” he said. “That is what we are good at – we're not like other clubs who can spend fortunes on proven goods. We know that City are going to spend fortunes, pay stupid money, pay silly salaries and all that.

"We can't do anything about that. We concentrate on what we can do to try to bring players in for the right reasons.

“We invest in players who will be with the club for a long time, who will create the character of the club, who will create excitement for our fans, and we are very proud of that and we are going to continue that way.

“We're good at it. If you are good at it then stick with it. We also have some maturity in the team."

This season proved difficult for United to balance an aging side with the fresh legs but less experienced youngsters brought in last season, but Ferguson claimed his side will always evolve.

"Rio is 33 but after that we have no issues. No issues at all. So yes we want to add to the squad and that is in process at the moment – we have set our stall in terms of certain players," he said.

"And we want to make sure that the evolution continues at United because we are always talking about evolving a new team because I've been here for 25 years and I have to maintain a certain standard that keeps us there all the time. We don't always win [the title] but we always have to be there."

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