Ole Gunnar Solskjaer is desperate to add quality to his squad after losing momentum and failing to qualify for the Champions League.
United enjoyed a mid-season revival after the Norwegian replaced Jose Mourinho in December but they struggled for form towards the end of the campaign, leaving some critics questioning the appointment.
A lack of Champions League football may hinder their chances of attracting quality players this summer.
But Solskjaer is still planning on splashing out in a major squad overhaul.
According to Italian journalist Nicolo Schira, United have three names on their wishlist.
He claims fresh contact was made earlier this week with Borussia Dortmund over a move for Jadon Sancho.
The winger has emerged as one of Europe’s most exciting prospects in recent years and the Germans are reportedly demanding at least £100m to let him go.
United are targeting somebody to play on the right-hand side of their attack and Sancho is their top priority.
“Solskjaer is planning on splashing out in a major squad overhaul.”
Schira also claims United want Philippe Coutinho, who is believed to be unhappy at Barcelona.
Reports have suggested the Brazilian is reluctant to move to Old Trafford out of respect for former club Liverpool.
But with Chelsea facing a transfer ban, United could be the best option for Coutinho to rediscover his best form.
Barca are willing to sell the 26-year-old if they can secure a deal for Atletico Madrid star Antoine Griezmann.
Youri Tielemans is the third name on Solskjaer’s radar.
The Belgian midfielder has been a revelation on loan at Leicester from Monaco and Brendan Rodgers is hoping to tie up a permanent deal for around £40m.
But Arsenal and United are looking to hijack the move after being impressed by his performances.
Tielemans is seen as the ideal replacement for Ander Herrera, who is set to join PSG on a free transfer.