UEFA president Michel Platini described Real Madrid's world record bid for Manchester United's Cristiano Ronaldo as "excessive." "It is very puzzling at a time when football faces some of its worst ever financial challenges," Platini said in a statement to Reuters.

"These transfers are a serious challenge to the idea of fairplay and the concept of financial balance in our competitions," he added.

He was referring to Madrid's £80million bid for Portuguese winger Ronaldo and the recent signing of Brazilian midfielder Kaka for around £58million.