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Manchester United boss Sir Alex Ferguson has admitted that he needs to rebuild his squad.

Ferguson believes United are slipping behind Arsenal and Liverpool and now is the time to bring in fresh blood.

"We have created three teams in 10 years here, and it is possible we are on the way to building another one," Ferguson said.

"And if we do, obviously new players can come in. We have trusted and believed in the nucleus of our squad, which has been there for a long time."

"We always try to improve, and we have done that each summer, or we try to sign at least one player.

"Maybe it is time to assess that the nucleus of the team has been together for 7-9 years - it's a long time," he said.
Juan Veron and Rio Ferdinand
Veron and Ferdinand cost Man Utd almost �60m

Ferguson is likely to add to his squad when the transfer window comes into effect in January with a new striker his top priority.

He may prefer to wait until next summer so that he can sign players who are not cup-tied for Champions League games.

But the Scot knows that action must be taken to prevent Manchester United from falling behind their main rivals.

"I think Arsenal and Liverpool have improved and I don't think we are meeting our expectation at this moment in time."

"Arsenal and Liverpool have built up very big squads. In particular Liverpool have built a strong and athletic squad. In the summer they bought four more players.

"I think since Gerard Houllier came in they have bought something like 28 players in four years. So it emphasises the ambition and desire of Liverpool.

"Arsenal too have built up a strong squad. Whereas, over the last four years say, we have only been adding one player at a time," Ferguson told the club's official website.

United face Liverpool and Arsenal in their next two Premiership games.