Manchester United are reportedly exploring a deal with Barcelona that could see Alejandro Balde move to Old Trafford, while Lisandro Martinez heads in the opposite direction during the January transfer window.

According to a report by FootballTransfers on Monday, 2 November 2026, Michael Carrick's side are looking to address two major weaknesses in their squad by negotiating transfers involving the Barcelona left-back and the Argentine defender.

United's need for defensive reinforcements has become increasingly apparent following their disappointing start to the Premier League season.

Their 2-0 defeat to Chelsea at Stamford Bridge left them with seven points, keeping them outside the relegation zone only on goal difference.

The defeat also raised further questions about Martinez's future after the defender received a red card. His recent performances and reported criticism of the club's board have reportedly put his position under pressure.

Barcelona are understood to be interested in bringing the 28-year-old back to Spain as they look to strengthen their central defence.

Meanwhile, United have identified Balde as a potential solution to their problems at left-back. The 23-year-old has struggled for regular opportunities at Barcelona this season, making just four appearances.

The Spain international has fallen behind other options in the pecking order, with Joao Cancelo also preferred in the position. His situation has reportedly made him available for a January departure.

United were previously linked with Balde during the summer transfer window and could now revive their interest as they look to provide competition for Luke Shaw, who is currently injured.

Barcelona's financial situation could also influence negotiations. The Catalan club are keen to generate funds before making further additions to their squad, particularly as they target a new centre-back.

Financial vice-president Ferran Olive recently explained the club's transfer limitations, saying: "We have to sell in order to sign players. The '1:1' rule means that for one player to come in, another needs to leave."

Despite being described as a swap deal, the proposed arrangement would likely involve two separate transfers, allowing both clubs to manage the financial implications more effectively.

Although several agreements would be required before the deal could materialise, the proposal could benefit both sides by addressing important defensive concerns ahead of the second half of the season.