Manchester United chief executive David Gill last night rejected suggestions that the current Old Trafford slump could be attributed to the sale of David Beckham to Real Madrid last summer.
The Red Devils are out of the Champions League, almost certainly out of the running to win the Premiership after a 4-1 defeat to local rivals Manchester City and must overcome league leaders Arsenal to reach the FA Cup final.
Various theories for United's fall from grace have been posited but Gill insists a combination of factors - and some bad luck - have been to blame for a drop in the club's normally high standards.
On the issue of Beckham, Gill told Sky Sports News: "That was the decision taken last summer and we realised some capital [from the sale] and invested that back into players.
"Up until Christmas we were playing fantastically well and no one was asking at that point whether we were missing David Beckham. It's too easy to pin it on one factor."
Gill also refused to condemn Sir Alex Ferguson's decision not to sign a defender in the January transfer window despite the threat of Rio Ferdinand being unavailable for the remainder of the season due to suspension.
Gill insisted he and Ferguson had discussed signing a defender but the manager concluded it "wasn't necessary". "There was no point bringing in a player as a stop-gap measure, we would have wanted someone good enough to play in the Champions League and they are few and far between," Gill added.
"Hindsight is a wonderful thing, but at the time we felt it was the right decision.
"We understand that with the support we have around the world comes pressure and it was very disappointing to go out of the Champions League but if the goal [by Paul Scholes] had been given, which was patently onside, we might have gone through. But football is judged on little things like that," he said.