Rashford has impressed on-loan with Barcelona this season, though the Catalans are baulking at the agreed €30m price for his permanent option.
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Sport says Tottenham are willing to step in and take Rashford off United's hands should nothing be settled with Barca.
Any deal, however, will hinge on Tottenham surviving the drop. Spurs are currently sitting third-from-bottom on the Premier Leaue table, two points from safety.
Strengthening Tottenham's chances is Barca's interest in Atletico Madrid striker Julian Alvarez. The Blaugrana rate signing the Argentine ahead of keeping hold of Rashford next season.
