United manager Ole Gunnar Solskjaer wants to strengthen his side this summer after a sixth-placed Premier League finish.
Defence is a key area for the Norwegian to focus on after a poor end to the season for Manchester United.
The Red Devils were interested in Maguire last summer while under former boss Jose Mourinho.
And United are in for the centre-back again, though Metro claim they will not pay Leicester’s £90m asking price.
Instead, it’s claimed that United view the £75m Liverpool paid for Virgil van Dijk last season as the benchmark.
Solskjaer is also reportedly willing to offer a series of add-ones that could take the fee closer to what Leicester want.
A first-team United player could also be used in any deal to sign Maguire.
It’s claimed that Leicester would prefer a straight fee though Marcos Rojo, Andreas Pereira and Matteo Darmian are surplus to requirements at Old Trafford.
Maguire would fit in with Solskjaer’s philosophy with the Norwegian wanting young players at the club.
He recently said: “We’ve tried to educate our players and our kids to be proper people. In my view, the best players have always been the best people.
“You have to have that value system and a certain kind of attitude about you to make a Man United player.
“You have got to have the qualities and our fans want to see exciting players.
“Of course we want to get up from our seats. We want to see defenders who defend like they’re doing it for their lives – that’s the most important thing.
“When we start games [against big clubs], our fans clap a striker making a tackle. It’s always been in our culture.
“You have to have that work ethic and we’re scouting the market, trying to find the right ones.”
Manchester United have made just one signing so far this summer, bringing in Daniel James from Swansea.