The 23-year-old has had an underwhelming start to life at Old Trafford after his £73m move from Borussia Dortmund in 2021.
Struggles with fitness and form saw Sancho left out of the England squad for last year's World Cup in Qatar.
United boss Erik ten Hag sent the winger to the Netherlands to recuperate after suffering physical and mental fatigue.
Upon his return, Sancho's performances improved in patches and despite some glimmer of hope, Sancho has been unable to replicate his displays in the Bundesliga.
With Ten Hag expected to shake up his squad this summer, Sancho's future could be under threat with rival clubs now monitoring his situation.
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According to the Daily Star, Tottenham are interested in luring Sancho to north London ahead of new boss Ange Postecoglou's first season in charge.
United are likely to want a figure closer to £60m for the player who has 23 England caps to his name.
Former club Borussia Dortmund have expressed their interest in re-signing Sancho on a season-long loan deal.
But with takeover talks still not resolved, a loan would be of no use to Ten Hag who needs to raise funds to bolster his squad ahead of next season.
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Sancho's final act for United might have been his display in last weekend's FA Cup final defeat to Manchester City.
The winger was given the chance to shine at Wembley but struggled to make an impact and was replaced by Wout Weghorst in the closing stages.
A move for Sancho could spark a summer-long exchange between Tottenham and Manchester United.
The Red Devils remain keen on signing Harry Kane whilst Spurs have been linked with a move for United captain Harry Maguire.