Reyes has failed to establish himself at Atletico Madrid after his move from Arsenal last summer, and the 24-year-old was left out completely for last weekend's game against his old club Sevilla.

Reyes left England early last season for a loan spell at Real Madrid, but Reyes did not earn a permanent move to the Bernabeu, and instead joined their city rivals on a four-year contract for £8m.

However, Reyes has struggled to make an impression at the Estadio Vicente Calderon, and is understood to be keen to come back to England, despite regularly complaining of homesickness in the two years that followed his £17m move to Highbury.

And Atletico could let him go for as little as £5m.

It appears manager Kevin Keegan is making contingency plans should Sunday's opponents Tottenham Hotspur move for unsettled midfielder Charles N'Zogbia.

Keegan – who has been promised a significant transfer kitty by owner Mike Ashley – is looking for an attack-minded midfielder in the summer, and left-footed Reyes – who can play up front, in midfield or on the wing – certainly fits the bill.

But there would be question marks over whether Reyes would be able to settle in the north east of England, having found adapting to life in London so difficult.

United's vice-president (player recruitment) Tony Jimenez – appointed in January, having masterminded Juande Ramos move to White Hart Lane earlier in the season – is well connected in Sevilla, where Reyes started his professional career, and his influence will be central to any move for the Spain international.

However, Liverpool and Manchester City are also understood to be interested in Reyes, and Newcastle would be unable to offer him European football.

Meanwhile, Keegan is expected to travel to Northwich Victoria tonight to see United's reserves take on Manchester United (7pm).

New signing Lamine Diatta will get another start, while fellow central defender Peter Ramage will play the second game of his comeback from a long-term knee injury.