Fergie in Smith swoop

Leeds striker Alan Smith is in talks with Manchester United over a £5million move to Old Trafford.

United manager Sir Alex Ferguson, who is hoping to sign the 23-year-old forward in a cut-price deal following Leeds' relegation to Division One, opened talks with Smith and his representatives last night.

Ferguson sees the England international, left on stand-by by Sven Goran Eriksson for Euro 2004 yesterday, as the first part of his summer rebuilding exercise after finishing third in the Premiership.

With United and Ferguson expecting a mouth-watering £40m bid from Real Madrid for Ruud van Nistelrooy in the coming months, the Old Trafford manager knows a proven Premiership and European striker is the priority.

Although he added Fulham's Louis Saha in a £12m deal in January, Ferguson's other attacking options are Ole Gunnar Solskjaer, who could be heading to Celtic after a season plagued by injury, and £6m Uruguayan flop Diego Forlan.

Smith has interested Newcastle, Middlesbrough and Birmingham but has made United his No. 1 choice, despite expected opposition from Leeds fans still smarting from Rio Ferdinand's move across the Pennines. Leeds, £50m in debt, continue to leak cash at an alarming rate.

Supporters are bracing themselves for a summer clear-out, with James Milner favourite to follow Smith to Old Trafford. Even as haulage magnate and Leeds fan Steve Parkin, 43, inspects the books with a view to a £25m takeover, Leeds' current regime are heading towards financial meltdown unless more top players are moved out.

The £1.5m fee Tottenham paid up front for England goalkeeper Paul Robinson last week will be eaten up by a £1.75m interest payment due on June 1 on the £15m loan Leeds took out in March. A wage bill that needs to be slashed from £38m a year to nearer £10m has actually risen with the return of the unwanted Danny Mills and Michael Bridges.