Express Sport understands the Red Devils have opened talks with Juventus over a deal for Paulo Dybala.
That are also discussing a deal with Inter Milan that would see Mauro Icardi head to Old Trafford.
Both Argentina international strikers are available at the right price this summer.
Juventus would be more likely to put up a fight for Dybala, even though the striker has endured a goal drought this term.
Yet Icardi seems determined to leave Inter, with a £90m (€100m release clause) opening for a two-week period in the summer.
Manchester United are ready to negotiate over deals for either man and will try to sweeten any agreement by throwing Lukaku into the mix.
It is understood that Lukaku himself is aware of the situation.
And the Belgium international would prefer to move to Juventus and link up with Cristiano Ronaldo.
Juve are flying in Serie A but signed Ronaldo specifically to chase the Champions League.
They spent £105m on the striker last summer and needed the help if car manufacturers FIAT to fund his £26m-a-season wages.
Juventus offloaded Gonzalo Higuain onto Milan to free up space for Ronaldo’s arrival – and Lukaku joining would likely give manager Max Allegri the same headache he had last summer.
As for Inter, they have become increasingly reliant on Icardi’s goals this season as they chase a Champions League spot.
However, relations between the striker and manager Luciano Spalletti is understood to be at an all-time low.
Icardi missed their Europa League clash with Rapid Vienna on Thursday and is out of today’s clash against Sampdoria, supposedly through injury.
But there are concerns Spalletti is unhappy with his star striker.
His wife and agent Wanda Nara is said to be seeking an exit for the Argentine as contract talks with Inter Milan continue.
Icardi’s £90m release clause will be active for just two weeks in the summer and the club understandably want him to sign a new deal that takes out that clause.
But Icardi is demanding a pay rise to play ball.
Icardi joining United could reduce the drama at the San Siro for Spalletti, who has already taken the captaincy away from his star striker.
But convincing Lukaku to join the Milan side would certainly take some work.