The Red Devils have already strengthened their forward options this summer, having recruited Netherlands international Joshua Zirkzee from Bologna.
Man United signed Zirkzee in a deal worth around €42.5m (£36.5m) after he impressed with 11 goals and five assists in 34 Serie A matches last season.
Zirkzee has effectively filled the void left by Anthony Martial, who left the club upon the expiry of his contract earlier this summer.
As it stands, Erik ten Hag will head into the 2024-25 campaign with Zirkzee and Rasmus Hojlund as his main two centre-forward options.
Man United lining up Toney move
However, the Man United boss will start the season with Hojlund after the Dane sustained an injury in a friendly against Arsenal on July 28.
Although Hojlund is only expected to be out until mid-September, the Red Devils are still considering whether to add another striker to their squad for the new campaign.
According to Football Insider, Man United are planning to launch a bid to sign Toney in the latter stages of the summer transfer window.
Having entered the final 12 months of his current contract, Toney has been linked with a move away from the Gtech Community Stadium this summer.
The report claims that Brentford have dropped their asking price for the 28-year-old from £70m to £50m due to the player's contract situation.
What are Toney's other options?
While it remains to be seen whether Man United make a concrete offer, Toney's future is likely to be the subject of much speculation between now and the end of the transfer window.
Arsenal and Chelsea have seemingly cooled their interest, but Tottenham Hotspur and West Ham United are still believed to be among his potential suitors.
However, there is still a possibility that Toney could remain with Thomas Frank's side and look to move on as a free agent next summer.
Brentford's attitude to a sale may be influenced by the recent news that club-record signing Igor Thiago will be out for months with a knee injury.
As a result of Thiago's injury, Toney is set to begin the 2024-25 campaign as the sole natural centre-forward option in the Brentford squad.