Manchester United manager Sir Alex Ferguson believes that spending heavily can certainly bring you success, but there is no guarantee to winning the Premier League title.

"While recruiting some of the world's leading players can lift you into contention for honors, it doesn't necessarily take you all the way as I hope we will be able to demonstrate before the end of the season as other factors come into play," said Ferguson.

Since the time when Sheikh Mansour bought Manchester City football club in August 2008, City have spent a total of 400 million pounds as compared to United's 28 million pounds.

"Money can buy success as we saw when Chelsea suddenly became cash rich. Now we are witnessing a similar surge by Manchester City under their wealthy owners", said Ferguson.

Ferguson also believes that with the amount of money City have spent in the last few years, they are favorites for winning the title this year, but it isn''t a guarantee though, The Sun reports.

"Their transfer clout has taken them to the top of the league and they are favorites to win the title", said Ferguson. United are currently lying at the second place in league table, only two points adrift from their rivals City.