Sancho has been exiled from the United side after falling out with manager Erik ten Hag, despite signing for £73 million just two years ago.
INEOS chief Sir Jim Ratcliffe is expected to be confirmed as a new minority shareholder of the Red Devils, and Blanc is one of his most trusted associates -- who currently oversees INEOS' entire sporting portfolio.
The Brazilian forward has established himself as a key player for the Spanish side, often featuring as a left wing-back following the departure of Yannick Carrasco.
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