Manchester United appear poised to make a formal offer for Wigan Athletic winger Antonio Valencia, according to Latics chairman Dave Whelan.United, who are set to sell forward Cristiano Ronaldo to Real Madrid for £80m, are keen to sign the 23-year-old.
"They have been in touch with us and we will be starting negotiations very shortly, I would imagine," said Whelan.
"If Antonio says he wants to go to Manchester United and we get the right fee, the deal will be done."
Some reports in the British media on Saturday claimed United had already submitted a £17.5m bid for the Ecuadorian, who would be a natural replacement for Ronaldo on the right wing.
"United have been in touch with us over Antonio for the last two or three months, expressing an interest and actually putting cash offers on the table," added Whelan.
"Those things have got to be picked up now. I think they were waiting to see if Ronaldo actually went to Real.
"Things will develop over the next seven to 14 days. United boss Sir Alex Ferguson will make his move when he is ready. He is a shrewd operator and the finest manager the world has ever seen."
Whelan said he was not desperate to sell Valencia: "If I can keep the lad, I'm going to keep him. He is one brilliant player.
"So there is no pressure on me, or our football club, to sell him. If Manchester United don't want to make a written offer, I'll be delighted and we will have him in our team next season."
However, Whelan added on Sky Sports News that he would not stand in Valencia's way if he wanted to move to Old Trafford.