Rashford returned to form in style during a season-long loan spell at Barcelona in 2025/26 with 14 goals in all competitions as Hansi Flick retained his LaLiga title.
However, the club opted against activating a £26m clause to make the deal permanent, and they have since wrapped up a €70M deal for Rashford's England teammate Anthony Gordon.
There appears to be no way back for Rashford at Old Trafford, despite Michael Carrick replacing Ruben Amorim in the top job, and Tottenham are eyeing up a bold offer as per The I.
United had previously quoted Premier League teams a fee in the region of £40M, but Spurs will not pay that, with Rashford now into the final two years of his contract in Manchester.
Roberto De Zerbi is open to offering closer to his clause at Barcelona, but Rashford's preference is a return to Spain, despite a lack of progress on that front so far this summer.
The main stumbling block for all concerned is Rashford's salary, rumoured to be in the region of £14M, which is well outside Tottenham's wage budget.
United's determination to offload Rashford and his hefty wages will drive the Red Devils to accept a reduced deal. Rashford's own willingness to take a pay cut is apparent - but that's based on the right challenge - and he's unconvinced by continuing his career in England.