Howe, meanwhile, is thought to be open to taking charge at Old Trafford. However, while United chiefs are reportedly discussing whether to sack Carrick ahead of their upcoming Premier League clash with Chelsea, securing their preferred replacement may prove more complicated than initially anticipated.

According to Chronicle Live, Newcastle would be entitled to compensation if Howe returned to management, with a 'significant payout' potentially required due to the length of time remaining on his contract at St James' Park. Howe was reportedly earning around £6million per year and had committed to a multi-year agreement in the summer of 2024, meaning any compensation package could run into millions.

The report suggests Newcastle could be in line for a substantial windfall, particularly after allowing members of Howe's backroom team, including Jason Tindall, Stephen Purches and Simon Weatherstone, to depart alongside him amid speculation they could reunite at another club. Such an expense would add to the significant sums United have already spent on managerial departures in recent years.

The club previously incurred a net severance cost of £8.2m following the premature departure of Ruben Amorim and his coaching staff, highlighting the financial implications of another potential managerial change at Old Trafford.

However, Ratcliffe is expected to have the final say on any managerial appointment and is believed to favour an English candidate. According to The Sun, the INEOS billionaire is keen for United to have a homegrown manager at the helm.

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Should United make a formal approach for Howe, they would likely also need to negotiate deals with his trusted backroom staff, including assistant manager Tindall, first-team coaches Purches and Weatherstone, and sports scientist Dan Hodges. All four have worked alongside Howe during his spells at Bournemouth and Newcastle.