Sun indicated that the Red Devils team sees Neto as the best alternative to Gideon Sancho, the Dortmund player, who wanted United to obtain his services, but his attempts failed.
Netto is in his second season with Wolverhampton after his departure from Lazio in 2019 for 18 million euros.
The former Braga player participated in 33 games this season with Wolverhampton, scoring 5 goals and sending 4 assists.
His contract with Wolverhampton extends to 2025.
Neto represented Portugal in a single international match last November.