• Manchester United's 'good offer' failed to head off Tottenham • Joins Gascoigne and Barnes on list of those who got away

Sir Alex Ferguson never usually worries too much about the ones who get away but Manchester United's manager made an exception yesterday when talking about Gareth Bale, admitting he had missed out on the player he now rates as Tottenham Hotspur's outstanding footballer.

Bale fits alongside Paul Gascoigne and John Barnes among the players who Ferguson tried, and failed, to sign before they went on to play brilliantly elsewhere, and who the longest-serving manager in the business cannot help but wonder would have excelled at Old Trafford.

Ferguson spoke of making "a good offer" to Southampton four years ago but refused to match Tottenham's bid of £5m rising to £10m depending on the player's success. "We tried to sign him from [Southampton] as a 17-year-old," Ferguson reflected as he prepared to take his side to White Hart Lane .

"But it never got to the stage of talking to the player. They didn't accept our offer and I think they must have alerted Tottenham. I don't know the full circumstances but, listen, you try to get the best deal you can. We made a good offer but they turned it down."

Five years on, Bale has established himself as one of the more formidable players in the league, leading Manchester City's manager, Roberto Mancini, to say this week that Spurs would lose "50% of their potential" if they decided to sell the left‑sided player.

Ferguson had originally identified Bale as a promising left-back but could now be forgiven for wondering whether he lost out on a player who could have been the long-term replacement for Ryan Giggs on the left side of United's attack.

"He came as a left-back back then but [the Spurs manager] Harry Redknapp has found a position for him using the player's talents, his tremendous speed and the fact he is a great crosser of the ball. [Rafael] van der Vaart has made a good contribution goals-wise, he has good ability on the ball and he's been a good signing. But the best contribution, without doubt, has been Bale, who has scored 11 goals, which is a really good return for a wide player."

Ferguson, nonetheless, can be encouraged by Rafael da Silva's performance against Bale when the sides met at Old Trafford in October, and the United manager believes the Brazilian is showing growing maturity.

"The thing about Rafael is that he's not making any rash decisions. He was quite an impulsive young boy last season," he said. "In the away game against Milan, he overran the ball in the middle of the pitch and they got their second goal from it. In the second leg against Bayern Munich he had a slight tug on their player and was sent off.

"But we invest in the future at this club and we are getting that return now. His form this season has been absolutely brilliant. He has learned. His concentration levels have improved. He's still only 20, just a young boy, and you don't expect young defenders to be consistent but he has been really consistent this season."