David Moyes insists Manchester United are still capable of bringing the biggest names in European football to Old Trafford despite their struggles to add to their squad this summer.

United have busied themselves in the transfer market but have to date brought just one player to the club in the form of the low key arrival of Uruguayan youngster Guillermo Varela who is likely to leave the club on loan ahead of the new season.

In that time, Moyes has seen two bids for former Arsenal captain Cesc Fabregas turned away by Barcelona who insist the midfielder is not for sale while Thiago Alcantara, whom United were persistently linked with throughout May and June, opted for a move to Bayern Munich despite firm interest from the Premier League champions, according to the 22-year-old's father.

As United have struggled to add to their Premier League-winning squad, clubs across Europe have shown no signs of caution in parting with exorbitant fees. French duo Paris Saint Germain and Monaco's incoming transfer business has already exceeded the €100m mark while Napoli have led the spending in Serie A.

Domestically, Manchester City and Chelsea have already flexed their financial muscles, but Moyes remains unperturbed by the business of clubs around him, confident that United will always be a competing factor in the transfer market.

"That is not something Manchester United are frightened of," Moyes told PA Sport.

"Manchester United are more than happy to compete with all of the teams. There has been a change in the dynamic because of PSG coming on the scene recently. That has altered things. But Manchester United will always compete.

"One thing it has got is the history. It has got the name. It has got the success. Players do want to be connected to that and one day say they have played for Manchester United. That is a big pull for any player."

United yesterday completed their tour of the Far East and Australia with an emphatic 5-2 victory over Kitchee before returning to Manchester.

According to the Daily Mail, Moyes will sit down with the club's chief executive Ed Woodward, who left the tour early on "urgent transfer business", to discuss the future of Wayne Rooney as Chelsea reportedly consider a second bid for the England international.