Bramall Lane's PLC boss confirmed to Sportsmail that the U2 lead singer is a director of an American sporting and media company with whom he is negotiating.
But McCabe's immediate priority is to install a 'head of football' - and Taylor fits his criteria. McCabe said: 'He'd be top of my list. He'd be diplomatic, he wouldn't' t tread on toes and he has great knowledge. We're looking for a younger Sir Bobby Robson.'
At 63, Taylor has admitted he would be receptive to a fresh challenge. McCabe envisages Taylor being in charge of United's football operation but not compromising Kevin Blackwell's management.
McCabe, meanwhile, confirmed talks with Bono's company. He said: 'Bono is a director of one of the companies we've spoken to. We're not talking to him as an individual but to a company with whom he is associated.'