Madrid Will Not Bid For Beckham

Florentino Perez has ended speculation that Real Madrid were preparing a summer move for Manchester United's David Beckham.

Rumours circulating in Spain suggested that Madrid were asking financiers to fund a bid for the England captain.

But the Madrid president has shut the door on any move, citing the downturn in the transfer market.

"Beckham is a great player," Perez explained. "But I do not want to create any expectations that he may be coming here and then have to tell you that is not coming."

"We are not looking to make any large moves in the market."