David de Gea
De Gea was recently crowned United's Player of the Season for third year running.Getty

The David de Gea transfer saga between Manchester United and Real Madrid is set to be rekindle after the Premier League outfit failed to secure Champions League football for next season. Spanish publication AS claims Los Blancos have to make a rapid decision as the €50m (£39.1m, $56.6m) release clause agreed between the keeper and the Red Devils as part of his last year new deal will expire on 15 June.

The former Atletico Madrid player was all set to move to the Santiago Bernabeu during last summer's transfer window, after the clubs agreed his transfer on deadline day – with Real Madrid current number one Keylor Navas expected to make the move in the opposite direction as a makeweight. The deal collapsed as paperwork did not arrive at La Liga headquarters on time.

De Gea, whose contract at United was originally due to expire in June 2016, opted to commit his long-term future to the club by signing a four-year deal.

Reports in Spain have since suggested that Real Madrid might make a new attempt to lure the Spaniard to the Santiago Bernabeu in the coming mercato, amid claims that the keeper inserted a buyout clause in the deal to facilitate a departure to Los Blancos.

AS has added more to the story after revealing that a €50m buy-out clause does exist – but is only effective until 15 June.

The Spanish publication claims De Gea is still keen on making the move to Real Madrid in the coming window, especially after United fail to secure Champions League football for next season.

Meanwhile, Real Madrid president Florentino Perez sees him as Los Blancos number one for the long-term and believes that the club are in "debt" with him following the last summer transfer fiasco.

However, other officials at Real Madrid and the club's own fans consider it nonsense to pay €50m for a keeper after Keylor Navas had been one of the top performers for the side in the current campaign.

The saga is set to continue but, should the reports are true, this time it will not last long. Real Madrid will need to make the decision in less than a month to take advantage of the release clause.

The Daily Mail , meanwhile, reports that De Gea will force his Old Trafford exit should Louis van Gaal stay at the club one more season as the keeper has grown disenchanted with life under the Dutchman.