The 28 year old it was a target for West Ham United during the summer transfer window but Lingard decided to stay at Old Trafford and fight for his place under Ole Gunnar Solskjaer.
However, things have not gone according to plan for the England attacker and he has struggled to hold down a regular starting berth. But the attacker has chipped in with important cameos this season.
The player has a contract at Manchester United until the end of the season and the Red Devils are not keen on losing him on a free transfer.
According to the Sun, the player could be sold during the January transfer window if a contract extension is not signed by then.
The report adds that Manchester United will look to cash in on the player for a fee of around £15 million.
The player has been offered a new contract worth around £135,000 a week which is an increase on his current deal.
However, the lack of game time could be a deal-breaker for Lingard. It remains to be seen how the situation evolves over the next few weeks.
Lingard is unlikely to have a shortage of suitors if he is available in January.
The likes of West Ham could reignite their interest in the player and Newcastle United could also make a move for the player after the takeover.
The magpies could certainly use a goalscoring presence like Lingard during the second half of the season.