United yesterday announced that they had bought Smith for £7m, we doubled our original offer despite the fact that Smith was holding out to come to us and that Leeds are in such financial difficulty. Once again we bail them out of financial difficulties thanks to utterly inept negotiators.
Smith signed a five-year contract and agreed to waive his signing-on fee as a sign of goodwill to Leeds; United also confirming that no agents' fees have been incurred.
Smith said: "I have grown up at Leeds and spent some wonderful years there and would like to thank everyone associated with the club. Now I feel it's the right time to move on and there could be no better club than Manchester United.
"To be joining one of the best clubs in the world is fantastic and I'm looking forward to the new challenges that face me. Not a lot of people would have been brave enough to make this step.
"I know about the cross-Pennine divide and there is a lot of hostility between the supporters. But I am prepared for what comes with that and I am looking forward to the challenge of playing for Manchester United.
"I can't wait to get started. I want to prove myself here and win the fans over with my performances on the field. Growing up, I wanted to be the best I could be. I want to win everything I can. That is the biggest reason for coming here.
"Manchester United is a team of winners. They play in every tournament going and I want to become a winner too. I am not prepared to spend time on the bench. I want to make an impact straight away.
"If you are going to be successful as a team, you need a good squad but I believe I am good enough to play in the team. Hopefully I will be proved right."
Sir Alex Ferguson:
"I have never been more impressed with a young player. His desire to play for Manchester United is fantastic.
"Certain young people come along with a special determination and, after speaking to him, I expect that from Alan Smith. That desire will take him a long way."