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.
But he said it was only when Manchester United heard of the bid by Newcastle United that they were galvanised into action and put in a bid for the player.
Until news broke of the Newcastle bid, United "didn't think (Rooney) was available to be honest", said Ferguson.
He said Manchester United had been interested in Rooney when he was just 14 years old.
Wayne Rooney told reporters: "It's been a tough week for everybody connected with me. I'm very excited. It's an unbelievable team. Hopefully, I can come into the team and do well.
"I've matured a lot on the pitch and off the pitch. It was difficult leaving Everton because I've supported them all my life, but I wanted to go play in the Champion's League."