Ferdinand completes record Manchester United move
Jeremy Butler
Manchester United completed the record 30 million pounds ($47.27 million) signing of England defender Rio Ferdinand from Leeds United on Monday.
The deal, confirmed by the two clubs in separate statements to the London Stock Exchange, makes Ferdinand the most expensive defender in the world and the most expensive British footballer in history.
Ferdinand signed a five-year contract with the Old Trafford club after passing a medical and agreeing personal terms.
"I'm obviously delighted to be joining Manchester United," the 23-year-old told a news conference.
"I made this decision with my friends and family for myself, to improve myself as a player. It's a bold step but I'm just happy to be here.
"It wasn't an easy decision but it's a short career and opportunities like this don't come around all the time."
United said the transfer fee could rise as high as 33.3 million pounds ($52.47 million).
They will pay Leeds 15 million pounds immediately, with 14.3 million pounds following in July 2003.
"The balance, up to a maximum of four million pounds, will be payable during the contract period depending on the team performance of Manchester United," read the statement.
Media reports suggest Ferdinand's wages will be in the region of 70,000 pounds per week.
RECORD SURPASSED
The deal surpassed Juventus's $35.4 million capture of French international defender Lilian Thuram from Parma last year.
It also exceeds the British record 28.1 million pounds United paid Italian club Lazio to buy Argentine midfielder Juan Sebastian Veron in 2001.
Ferdinand, who joined Leeds from West Ham United for 18 million pounds in November 2000, made several impressive displays as England reached the quarter-finals of the World Cup last month.
The former Leeds captain handed in a transfer request last Wednesday, which was initially rejected by Leeds. But talks between the two clubs continued and a deal was finally concluded on Monday.
United manager Alex Ferguson said he had been chasing Ferdinand since he was a 17-year-old and was extremely pleased to have finally brought him to Old Trafford.
"We are so delighted, he's going to be a fantastic player," Ferguson said. "Who wouldn't want him at Old Trafford? Everybody wanted him here."
