The funds will reportedly be used to rebuild the squad under manager Gary O'Neil. Wolves finished the season 14th in the Premier League, but a full 20 points clear of relegation despite being widely tipped to be in a battle to stay up at the start of the campaign.

Key man Neto has already attracted the attention of United's rivals, with Arsenal sporting director Edu said to 'appreciate' the ability of the Portuguese international. The Telegraph report also claims that Manchester City and Newcastle are both interested too.

United are expected to make a number of signings this summer as Sir Jim Ratcliffe targets an overhaul of the first-team squad. The INEOS boss has already secured the services of new technical director Jason Wilcox, with Dan Ashton also set to come on board from Newcastle.

And the club are set to lose some of their attacking players when the transfer window opens in June. Jadon Sancho is not expected to be welcomed back into the fold after his explosive fallout with Ten Hag, having spent the latter half of the season at Borussia Dortmund on loan.

Anthony Martial will also leave the club for free when his contract expires, while speculation continues over the future of Marcus Rashford. The England international is set to be the subject of interest from PSG, despite only signing a lucrative new deal in 2023 that made him United's top earner.

But the scale of United's summer transfer activity could be dictated by the outcome of their FA Cup final with Man City this Saturday. Defeat would mean no European football for the club next season, following on from their disastrous 2023/24 Champions League campaign.