Manchester United are reportedly readying an offer to sign rumoured Liverpool target Arda Turan from Atletico Madrid in the ongoing transfer window.

The Daily Express reports that the Red Devils are willing to offer Shinji Kagawa in exchange for the winger. The 27-year-old is thought to have emerged as a target for Louis van Gaal following his failed pursuit of Juventus star Arturo Vidal.

The Chilean international is valued in excess of £40m and the reigning Serie A champions are unwilling to part ways with their midfield ace. Turan on the other hand has a release clause of £32m but United are hoping to land him for just £16m and offering Kagawa in exchange.

The Merseyside club were thought to be interested in signing the Turkish international but their interest appears to have quelled following Lazar Markovic's arrival coupled with the rise of Raheem Sterling and emergence of Jordon Ibe.

Reports claim that Atletico have made enquires for the 25-year-old playmaker and were ready to launch a £14m bid. The former Borussia Dortmund star is viewed as an alternative option by the Spanish capital outfit's manager Diego Simeone.

The La Liga champions were also said to be interested in signing Arsenal's Santi Cazorla but the club president Enrique Cerezo quashed the speculations. Kagawa, who arrived at Old Trafford in 2012, has failed to etch his place in the starting lineup under former managers Sir Alex Ferguson and David Moyes.

The Japanese international is believed to be on Van Gaal's unwanted list, which also includes Anderson, Marouane Fellaini, Nani, Wilfried Zaha and Javier Hernandez.

The 62-year-old Dutchman has admitted that he will be trimming his squad once United's tour of the USA is complete, which concluded with a 3-1 victory over arch-rivals Liverpool in the final of the International Champions Cup.

"I shall make judgments after this tour. Now also it is a little bit soon to judge, but in football you have to judge and you have to give a chance to the player to make a transfer when I see that his prospects to play are not so high," the former Barcelona and Bayern Munich boss said.

"I let all the players play and I know now more than before the tour. You have to say it in advance because it's too late after August 31. I will tell players after the tour - but to them, not to you," he concluded.

Turan's arrival will certainly bolster United's chances of breaking into the top four of the Premier League. The former Galatasaray star, known for his pace and immaculate ball control has three years remaining on his current contract.