Broom’s Posh departure frees up some spending money, but Fergie won’t be using it as he prepares to bring Louis Reed back in from the cold

Ferguson thinks it’s too late in the transfer window - the deadline for signings is 11pm tonight (February 1) - to start chasing new players.

Reports today of Posh interest in Ipswich Town midfielder Jon Nolan are false according to club director of football Barry Fry.

“I’ve never been one for making a signing just for the sake of it,” Ferguson insisted. “Ryan leaving has freed up a place and you never really know what will happen in the last few hours of a transfer window, but it’s really too late to be thinking about possible new players.

“I didn’t know there was a chance of Ryan leaving until yesterday.

“Ideally I would have kept everyone as the schedule is so demanding, but at the same time I can’t have 30 players knocking around as it wouldn’t be fair on many of them.

“I am happy with the squad anyway. I have cover in every position.”

Ferguson has revealed midfielder Louis Reed will come in from the cold and take part in tomorrow’s Papa John’s Trophy quarter-final at Tranmere Rovers (February 2, 7pm).

Reed is out of contract at the end of the season and will probably leave Posh, but rumoured interest in the 23 year-old didn’t lead to a deadline day move.

Ferguson added: “I’ve had a good chat with Louis and he understands what’s going on. It’s tough to get four central midfielders into a matchday squad and I’ve been going with Jack Taylor, Ethan Hamilton and Reece Brown.

“There was some interest in Louis, but nothing has happened.

“Louis trains well and his attitude is good so he will definitely be involved at Tranmere.”

Reed last started a Posh match at Portsmouth on December 5.