Sir Alex Ferguson has handed Michael Owen the Manchester United number seven shirt - and declared Old Trafford closed for transfer business.

It was anticipated Ferguson would make further signings in addition to Owen, Antonio Valencia and Gabriel Obertan, who joined last week from Bordeaux.

But, faced with a market over-inflated by Real Madrid and Manchester City, Ferguson has decided his current squad is good enough to challenge for an unprecedented fourth consecutive league title, even though Cristiano Ronaldo and Carlos Tevez have left.

He said: “It is the end of our business, so all these stories about who we are supposed to be getting - forget it.”

It means Owen will take over Ronaldo’s shirt and his place in an attacking line-up containing Wayne Rooney and Dimitar Berbatov, plus youngsters Daniel Welbeck and Federico Macheda, who will both be given a chance to prove they are worthy of the accolades that have been bestowed on them.

“They are both young players - but young players with ability always get a chance here.”

Inter Milan’s Sweden international striker Zlatan Ibrahimovic has claimed Chelsea want to sign him.

Ibrahimovic, whose Inter coach Jose Mourinho used to be in charge at Stamford Bridge, has revealed that money will not be the main motivating factor in any move after being linked with a £60million switch to the Barclays Premier League.

Ibrahimovic said: “I am fully aware that Chelsea want to sign me and, of course, it is very flattering. They are one of the biggest teams in Europe and the Premier League is one of the best leagues in the world.

“Money is not the most important thing, I will base my decision on what’s good for me, what suits me.”

He told the News of the World: “Money is not the most important thing. I will base my decision on what’s good for me, what suits me.

“It is about asking: will I still be able to be special in the league that I am going to, to the team that I am going to?

“Are my qualities right for the Premier League or not?”

John Terry reportedly told Roman Abramovich that he wants to talk to Manchester City about a possible £50m move.

The Chelsea captain met with the club’s Russian owner on Saturday afternoon and - according to reports in several Sunday papers - told him that he wants the chance to discuss a move to the world’s richest club.

The Sunday Times reports that Terry was told that the club would not match City’s offer of £250,000 a week, and that he would have to hand in a transfer request to engineer a move north.

Abramovich is allegedly willing to make Terry the highest-paid player at the club but will not pay him significantly more than current high earner Frank Lampard.

City apparently remain confident that they will sign Terry, with a £5m signing-on fee sweetening the deal, according to the News of the World.

They also suggest that any money recouped from the sale of Terry would be ploughed into a move for AC Milan’s Alexandre Pato.

Manchester City have officially ended their pursuit of Barcelona striker Samuel Eto’o.

The club confirmed they had given up hope of signing the Cameroon international on their website.

Chief executive Garry Cook said: “Samuel Eto’o is undoubtedly a fine footballer but the circumstances surrounding him were such that the deal could not be completed.

“We now feel the time is right to pursue other avenues and we have a clear and strategic transfer plan, which we continue to follow.”

It seemed the striker was bound for Eastlands a fortnight ago, when Barcelona accepted a bid for the star, who scored in last season’s Champions League final triumph against Manchester United.

However, the deal quickly became mired in a contractual dispute between Eto’o and the Catalan outfit.

The player, who is about to embark on the last year of his contract at the Nou Camp, felt he should receive a significant portion of the £18million City were willing to pay as he would be entitled to leave for nothing next summer.

Blues boss Mark Hughes initially signalled his intention to wait for Eto’o to resolve the wrangle.

Yet, as the week has dragged on, the argument just got more confusing and complicated.

It was suggested City were ready to offer Eto’o a deadline of this weekend to determine his future.

In the end, chairman Khaldoon al-Mubarak did not even give the 28-year-old that long, with Barcelona officially contacted on Friday with confirmation the deal was off.

While it could be viewed the latest development is merely posturing on City’s part, privately the club are adamant the transfer is now highly unlikely to go ahead.

To an extent, they understand Eto’o’s demands. However, they also feel a contract said to be worth around £200,000 a week was alone enough to keep Eto’o happy and are unwilling to let the situation drag on any longer.

After returning from a pre-season training camp in Germany, City are due to head for South Africa on Wednesday lunchtime for a three-match tour that will begin preparations for a new campaign that opens at Blackburn on August 15.

City have already signed Roque Santa Cruz from Blackburn to bolster their forward line this summer, but have loaned out Brazilian Jo to Everton on a season-long loan.

They have also ben linked with moves for the out-of-contract Carlos Tevez and Villarreal’s Giuseppe Rossi, both of whom are former Manchester United players.

In defence, City have been trying to sign Chelsea captain John Terry, while they have also been linked with Everton’s Joleon Lescott.

Karim Benzema revealed he rejected advances from Manchester United before opting for his “dream” move to Real Madrid.

Benzema established himself as one of Europe’s hottest properties during his time at Lyon, for whom he scored 54 competitive goals in the last two seasons, and he was regularly linked with some of the continent’s biggest clubs.

Madrid won the race for the France international after having a 35million euros bid accepted by Lyon last week, but while Benzema insists the Spanish giants were always his top choice, he confirmed they were not his only suitors.

When asked what other teams were keen on him, Benzema said: “There were quite a few clubs that contacted me like Manchester (United), Inter Milan and Barcelona, but I decided to come here.

“Real Madrid are an excellent club. I’ve dreamt about playing here since I was 15 years old.

“Florentino (Madrid president Perez) spoke to me about the team and the project that he wanted to create. I wanted to play at Real Madrid anyway so he didn’t have to convince me of hardly anything.”

Benzema is the the fourth new arrival to be unveiled by the Spanish giants since Perez returned to the presidency at the start of June, following in the footsteps of Cristiano Ronaldo, Kaka and Raul Albiol.

An estimated 90,000 people turned up for Ronaldo’s presentation at the Bernabeu on Monday, while around 55,000 were in attendance for Kaka’s unveiling last week.

The amount of people that watched Benzema’s presentation on Thursday night was considerably less than those two players, with around 20,000 in the stands, but the Frenchman was still delighted with his reception and immediately endeared himself to the fans by repeatedly kissing the Madrid badge.

“It was very exciting. Real Madrid fans have a special relationship with the players and I am very grateful for that,” he said.

“I felt some strong emotions today and that’s why I kissed the badge.”

Benzema, who has not yet been given a shirt number at his new club, was a prolific scorer with Lyon and he is confident he can be a regular marksman at Madrid as well - if he can secure himself a place in what is promising to be a star-studded line-up.

“I don’t want to promise a set number of goals, although I hope to score a lot. With players like Kaka, (Cristiano) Ronaldo and Raul it will be very easy for us to get goals,” said Benzema, whose signing takes Madrid’s spending this summer towards the £200million mark.

“I’m aware that there is great competition at the club and maybe I cannot always play, but I’ve come here to fight, so it’s not going to be a problem.”

Porto defender Bruno Alves admits he is tempted by a move to the Premier League, and claims he is “aware” of interest from Chelsea.

The Portugal international is expected to leave the Estadio do Dragao this summer after some sterling performances for Porto.

The 27-year-old was a late bloomer in football terms having only become a first-team regular at the Portuguese champions in the last three seasons.

Alves was tipped to move to Real Madrid at the end of the season but it now appears Chelsea could look to sign him as a replacement for Ricardo Carvalho.

However, as Alves reveals, they could face stiff competition from Barcelona.

“I’m open to a move to England. I’m aware of Chelsea’s interest and also Barcelona,” he told the Daily Mail.

“But I’m under contract to Porto and any decision comes down to the club.”

Former Manchester United striker Carlos Tevez is confident he will not be viewed as a traitor by the Old Trafford faithful if he completes a transfer to the club’s cross-city rivals.

The Argentina international turned down a permanent deal at United last month following a two-year loan deal and has since been linked with a lucrative move to wealthy Manchester City.

Chelsea are also reportedly tracking the 25-year-old’s availability, but Eastlands is believed to be Tevez’s likely destination this summer.

Tevez told The People: “If I play for Manchester City I don’t think the United fans will feel I am a traitor.

“They have to remember that at least as far as I know I have been thrown out of the club and I have to study the best offers available.”

Tevez’s decision to turn down the offer of a five-year deal at United has been defended by his adviser Kia Joorabchian, and the player himself insists manager Sir Alex Ferguson left him with little choice but to move on.

“It has come about because I could not stand my sporting situation at Manchester United any longer,” he continued.

“My first year was good in all senses. I played in the games and felt respected by the coach but in my second year some strange things happened that I still do not understand.

“After the game at Old Trafford where Liverpool beat us [4-1, in March], Ferguson ignored me almost as if I was to blame for the defeat when really Liverpool dominated us all over the pitch.

“After that the fans called for me to be in the team but he never took the advice on board because he always knows best.

“I gave everything for Manchester United and people know that. For that reason I don’t deserve the way things have ended up.”

The Republik of Mancunia website has responded to the most remarkable bit of transfer news this summer with an article titled ‘God No, Not Michael Owen’. F365 makes the case for why United signing Michael Owen would be a really good idea…

* United require another attacker. To start the season with just two youngsters as support two recognised top-class strikers would be a risk too far. In comparison, signing Michael Owen on a free transfer is no risk at all. A proven goalscorer who is presumably joining United in the knowledge that he will start the season behind Wayne Rooney and Dimi Berbatov in the pecking order, Owen is the perfect fit for what United require.

Not incidentally, it was mostly from the bench that Owen scored his 13 La Liga goals during his single season at Real Madrid, ending the campaign with the league’s highest ratio of goals scored to number of minutes played.

* Signing the 5ft 8 Owen would balance United’s attacking options. Berbatov, Danny Welbeck and Macheda are all big ‘uns while Rooney is the only little ‘un. True enough, Owen and Rooney failed to dovetail convincingly on England duty but that potential problem may be irrelevant: Ferguson probably has no intention of playing them together.

* If it is true that he has agreed a pay-as-you-play deal with a series of performance-related bonuses attached then Owen has passed the first, pivotal test. With Everton reputedly ready to offer him a far-superior weekly wage of £65,000, Owen’s willingness to accept the incentivised deal on offer at Old Trafford indicates that he still has the required ambition and hunger to succeed.

Furthermore, Owen has not only proved himself to the club’s manager but also made his transfer a risk-free venture for the board to approve. Nor can the club’s owners dissent: By joining on a Bosman free on knock-down wages, Owen’s arrival would not conflict with the reported age limit of 25 imposed on new purchases.

* If those performance-related clauses aren’t incentive enough, then the proximity of next summer’s World Cup should be sufficient to a player who has lost part of his name. England’s Michael Owen will be desperate to reclaim his place and his recall will only be possible if he makes a success of his first year at Old Trafford.

* Ahh, yes, the injuries. Don’t you think that Sir Alex might be aware of them as well, though? Before signing, Owen will first have to sign a medical that is being universally described as ’stringent’. That should help allay a few of the doubts. Moreover, it is not as if Owen’s body is fundamentally broken; he is not in recovery from a career-threatening knee injury or leg break. Instead, his career has been blighted in recent years by a series of annoying, inconvenient happenstance injuries - he missed the start of last season, for instance, with the mumps. And if there is one medical department in the world that is likely to put him on the road to recovery then it is in residence at Old Trafford.

* There are few more potent goalscorers in world football, never mind England. Even at Newcastle he continued to be prolific: the stat his critics fail to include when remarking disdainfully that he only started 58 league games for Newcastle is that he also managed to score 26 goals in that time.

* And that was when playing for a struggling team, sometimes in midfield, and as a poacher.

The retort to the argument that Owen’s pace has gone is that it was going even before he joined Real Madrid and it is precisely because Owen has morphed into a penalty-box predator that he is such a viable acquisition for a leading club. In a side near the bottom of the table, a predator is a luxury because he has so little to feed on. In a side challenging for the title, as United inevitably will be, he is in his element.

* A former European Footballer of the Year with the experience of playing for Real Madrid, Liverpool and England, Owen will not be overawed by the pressure of playing for United. And as a native of the north-west, he’ll have no problems settling in either.

* United have previously enjoyed bountiful success by signing strikers at the finale of their career - and the precedent set by Henrik Larsson and Teddy Sheringham will undoubtedly have been an encouragement to Sir Alex.

* The arrival of an Englishman will also be useful if FIFA succeed in bringing forward their plan to introduce a ’six plus five’ quota.

* Owen loves the horses. In other words, he’ll be the perfect companion for Sir Alex on the team bus.

* Liverpool fans are going to hate it if he joins United. Especially as the Law of Returning Players means he is absolutely guaranteed to score against them next season.

Pete Gill

Michael Owen has sealed his shock move to Manchester United, signing a two-year contract to keep him at Old Trafford until June 2012.

Michael Owen has moved to Manchester United after his contract ended with New Castle United he has joined Manchester United for a free transfer.

The former Liverpool, Real Madrid and England striker completed a series of stringent medical tests this evening and has signed a two-year deal with the Barclays Premier League champions.

Owen, 29, had earlier spent the day at United’s Carrington training complex as the terms of his free transfer were thrashed out, after he lapsed out of contract with Newcastle at the end of last month.

Speaking on the club’s website, Sir Alex Ferguson said: “Michael is a world class forward with a proven goalscoring record at the highest level and that has never been in question. Coming to Manchester United with the expectations that we have is something that Michael will relish.”

Owen himself admitted that the move had come ‘out of the blue. “I had just begun to talk to other clubs when out of the blue Sir Alex phoned me on Wednesday afternoon, invited me to have breakfast with him the next morning during which he told me that he wanted to sign me. I agreed without a moment’s thought,” he said.

“This is a fantastic opportunity for me and I intend to seize it with both hands.

“I am now looking forward to being a Manchester United player and I am fortunate that I already know so many of the players here. I missed pre-season last year and am pleased that I will be starting at Carrington from day one.

“I want to thank Sir Alex for the faith he has shown in me and I give him my assurance that I will repay him with my goals and performances”

Owen had undergone a medical examination yesterday to assess the troublesome knee which had sidelined him for much of his stay at St James’ Park.

Despite his previous injury problems the deal represents little risk to Red Devils boss Sir Alex Ferguson, who has been a long-time admirer of the 29-year-old.

“Michael is a world class forward with a proven goalscoring record at the highest level and that has never been in question,” said the United boss.

“Coming to Manchester United with the expectations that we have is something that Michael will relish.”

It is believed Ferguson has struck a pay-as-you-play deal which will involve a basic weekly wage enhanced by bonuses.

The player has taken a significant pay cut from the £110,000 he was reported to be on at Newcastle, for whom he scored 10 goals as they were relegated to the Coca-Cola Championship last season.

But it is the lure of playing for the champions, with the promise of Champions League football again, which excites Owen now as he tries to force his way back into the reckoning with England coach Fabio Capello.

Owen admitted United’s approach came as much as a shock to him as it did the rest of football.

“I had just begun to talk to other clubs when out of the blue Sir Alex phoned me on Wednesday afternoon, invited me to have breakfast with him next morning during which he told me that he wanted to sign me,” he said.

“I agreed without a moment’s thought. This is a fantastic opportunity for me and I intend to seize it with both hands.

“I am now looking forward to being a Manchester United player and I am fortunate that I already know so many of the players here.

“I missed pre-season last year and am pleased that I will be starting at Carrington from day one.

“I want to thank Sir Alex for the faith he has shown in me and I give him my assurance that I will repay him with my goals and performances.”

Sir Alex Ferguson has tipped new signing Antonio Valencia to make a significant contribution to Manchester United’s bid for an unprecedented fourth league title on the trot.

United confirmed their first summer arrival this evening as the 23-year-old signed a lucrative four-year contract.

Although the Red Devils have not specified a fee, it is believed they have spent around £16million of the world record £80million banked from the sale of Cristiano Ronaldo.

And, while it is not expected Valencia will represent the end of Ferguson’s spending, the United boss is already tipping the South American to make a big impact.

“Antonio is a player we have admired for some time now, having spent the last two years in the Premier League with Wigan,” he said.

“I am sure his pace and ability will make a significant contribution to the team.”

If nothing else, Valencia’s arrival ensures Wayne Rooney should be given the more central berth he craves next season as the Ecuador star is unlikely to venture into the middle quite as much as Ronaldo.

As he has already gone through the Premier League settling-in period after spending two seasons with the Latics, there are no worries over whether Valencia can adapt either.

His lack of English may be a concern initially, although the main doubt of most United fans is a goalscoring return of just seven in 83 appearances for Wigan and four in 34 for his country.

Even though few would expect Valencia alone to match Ronaldo’s phenomenal recent output, better will be expected from a player who spent a short time as a team-mate of former United star Diego Forlan at Villarreal.

Forlan’s experience proves players of high quality can struggle to make an impact at Old Trafford, although Valencia is looking forward to the opportunity.

“Joining Manchester United is a dream come true for me,” he said.

“I have enjoyed my time at Wigan but I am thrilled to have the chance to challenge for the biggest honours in club football here.

“Playing in front of 76,000 fans alongside players like Wayne Rooney, Rio Ferdinand and Ryan Giggs will be an amazing experience.

“I can’t wait to get started.”

The first Ecuadorian to play for United will get his first opportunity on a four-match tour of Asia next month, before the Red Devils head for a four-team tournament in Munich.

By the time Ferguson’s side wrap up their pre-season programme against Valencia at Old Trafford on August 5 and head to Wembley for the Community Shield showdown with Chelsea, Valencia will have expected to be accustomed to his new surroundings.

Having turned down an approach from Real Madrid, Valencia is clearly keen to make an impact, although it is a measure of the vast sums of money that has been spent at the Bernabeu, what would normally constitute a significant signing - and is a club record for Wigan - is almost being greeted with a shrug of the shoulders.

“I hope the fans at Wigan can understand that I am an ambitious guy and a chance like this might never come again for me,” said Valencia, who will be 24 next month.

“I am happy that the club has benefited from the move financially because I owe them such a lot. I have had a great time here.”