Ferguson said: “The European Championship derails transfer activity. Nothing really happens when the championships are on.

“Obviously, now that is all over, people settle down. Managers are back at their clubs and you can get some dialogue now if they are interested, but I wouldn’t think (we would buy) any more than one player.

“We are looking at one or two things.”

Ferguson will continue to monitor movement in the market but does not see many transfer dealings being straightforward.

He said: “People think it’s easy to buy players nowadays, but it’s not because money plays a big part first of all.

“Clubs with ambitions don’t want to sell their best players, so it’s not as easy as you’d think and we tend to look for younger ones.”

Ferguson was speaking at the Great Scots Cup charity golf event, held at the Carrick course by Loch Lomond where he is the honorary captain.

Proceeds from the event were to be donated to Ferguson’s charity, Elizabeth Hardy Ferguson Trust Fund, and the Children’s Hospice Association Scotland.