Roy Keane has refused Manchester United's first offer of an extended contract and has repeated his threat to leave unless the club meets his terms.

Keane has revealed that United made their first offer towards the end of last month and that he turned it down because it was not good enough.

The 27-year-old United skipper is now waiting for the club to come back with an improved offer.

Keane has one year left on his present contract and knows he could walk out of Old Trafford next summer on a highly-lucrative free transfer under the Bosman ruling.

The Republic of Ireland midfielder insists he is not being greedy and that he just wants what he feels he is worth in today's market.

"If the new contract is not right then I won't sign it. I won't undersell myself. I would think that this is my last big contract so it has got to be right," he said.

"I turned down the first offer a few weeks ago because it wasn't right. I felt we were quite a bit apart and so the ball is now in the club's court.

"Even though I am United's captain, have moved into a new house and my family are settled here, I won't sign a deal I am not happy with.

"If it isn't sorted out I will have to look at the bigger picture and I would be prepared to go. That's not a threat, that's just life.

"By saying that I am not trying to hold the club to ransom. I'm not arrogant enough or stupid enough to think that Manchester United will break the bank to keep me.

"I know they have their limits. The club won't just give me something if it is not right for them as well."

Keane claims he wants to stay at United and ideally he would like to sign a new deal as soon as possible.

"I think everybody knows I want to stay at Manchester United and certainly the club know that," he said.

"The whole thing is a pain I admit. The last thing a player wants is for a new contract to drag on and I would be lying if I said it wasn't bothering me.

"The quicker we come to a conclusion, the better for everyone, although I understand that these things take time.

"But I hope that it is sorted out sooner rather than later. I've achieved a lot with United and I'm still hungry to achieve more."

The sticking point in negotiations is Keane's wages demand and he reportedly wants £2million a season to sign on the dotted line.

United are reluctant to agree because this would smash their carefully-controlled salary structure. Keane would not reveal how much he wants but he claimed some reports were exaggerated.

Keane is currently sidelined after suffering a recurrence of his ankle injury and although he looks likely to miss the Charity Shield against Arsenal on August 1st, he says he should be back for the start of United's Premiership campaign a week later.

Denis irwin will captain United in Keane's absence in their first pre-season tour match against Australia in Melbourne tomorrow.

Meanwhile, Denis Irwin will captain United in Keane's absence in their first pre-season tour match against Australia in Melbourne tomorrow.

Mark Bosnich will make his first appearance for United since rejoining the club last month on a free transfer from Aston Villa.

Meanwhile, lawyers acting for Scotland coach Craig Brown yesterday served a defamation writ on a Sunday newspaper publisher over allegations he is a religious bigot. The papers were served on News International, publishers of the News of the World, which on Sunday claimed he sang the anti-Catholic song Billy Boys in a message left on the answering machine of a woman friend.