Pulisic completed a £58m move to Chelsea in January before immediately returning to Borussia Dortmund on loan for the rest of the season.
As a result, the Bundesliga club are flush with cash and are under little pressure to sell their prized assets this summer.
Manchester United boss Ole Gunnar Solskjaer had identified Jadon Sancho as one of his top transfer targets.
Old Trafford bosses were reportedly willing to fork out in excess of £80m to lure the England international.
A fee of that size would make Sancho the most expensive English footballer in history.
But, according to the Evening Standard, Borussia Dortmund chiefs have no intention of selling the 19-year-old.
As a result, the Red Devils will have to postpone their swoop for Sancho for a year.
United’s failure to qualify for next season’s Champions League is a further obstacle in any potential bid to sign Sancho.
In other Man Utd news:
BBC Sport reporter David Ornstein claims the hot prospect was “nailed on” in March to join United.
“The big one which not people have spoken about is Jadon Sancho,” Ornstein told BBC Radio 5 Live.
“Now Jadon Sancho is among the top targets at Manchester United I understand.
“And Manchester United would be his preferred option if he was to come back and return to the Premier League during this transfer window.
“I’m told that a couple of months this was looking like it would be nailed on.
“However, he [Sancho] is reluctant to give up Champions League football.
“He is reluctant to join an unstable club. He wants stability and he wants to win things.
“I’m told ‘never say never but as things stand it’s 50/50 on that one’.
“PSG, Juventus, Real Madrid and Barcelona have also shown firm interest in him.
“But there’s been no other interest from Premier League clubs.
“He won’t move for the sake of it, it has to be right for him and the fee this summer would be in excess of £100m.”
Meanwhile, Pulisic has revealed he is “really excited” to team up with N’Golo Kante at Chelsea.
“There’s so many good players here,” he said. “I’m really excited to play with N’Golo Kante.
“I’m excited to meet him, I love him as a player. The backline too, Luiz, Rudiger and those guys.
“It feels amazing I’m super excited. I can’t wait.”