Sir Alex Ferguson yesterday launched his most outspoken attack yet on wealthy club owners when he accused them of "kamikaze" spending on the same day that Manchester City prepared to take their outlay for the summer past the £130m mark with the arrival of James Milner.

Ferguson did not refer to City by name but the implication was clear when he warned that inflated prices were "dangerous" and that clubs will come to understand that "you can't necessarily achieve all the time by spending".

Yesterday, City presented their latest signing, Mario Balotelli, the 20-year-old striker from Internazionale who cost £23m. They expect Milner to arrive for his medical from Aston Villa this morning at the latest for a deal worth £24m, £8m of which is represented by Stephen Ireland going to Villa Park. It will take Sheikh Mansour's spending on transfers alone past £300m in the space of two years.