Chelsea are leading the race to sign Alejandro Garnacho. The 20-year-old winger has been heavily linked with a move to Stamford Bridge this month, with Manchester United under pressure to comply with the Premier League's profit and sustainability rules (PSR).

Garnacho, who sees his contract at Old Trafford expire in June 2028, has featured 21 times in the English top flight this season, scoring three goals and providing one assist. Despite his best efforts, the Argentina international has struggled to help drag Ruben Amorim's side into the top half of the Premier League table.

With United eager to raise funds and Chelsea open to an opportunity, Garnacho has recently emerged as a potential target. In fact, football.london understands that the Blues are in the market for a new left winger this month, with Mykhailo Mudryk provisionally suspended from football after failing a drugs test last month.

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Garnacho has been identified as somebody who can bolster Enzo Maresca's side, but nothing has been decided yet. While Chelsea weigh up a move for the Argentine, United have admitted that they are at risk of breaching PSR unless they reverse their repeated financial losses.

The club have posted a total of £373m in losses over the last five years. In an official response to United fan groups who raised concerns about mid-season ticket price increases.

"We are determined to ensure that our current fans can continue to afford to attend games and that tickets are accessible for future generations of fans," said United. "As previously communicated, we are however currently making a significant loss each year — totalling over £300m in the past 3 years.

"This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP requirements in future years and significantly impacting our ability to compete on the pitch."

United added: "We will get back to a cash positive position as soon as possible and we will have to make some difficult choices to get there. That has included a significant reduction to our workforce as well as cuts across many areas of spend across our club.

"None of this has been easy, but we believe it is essential to restoring financial sustainability to the club which will underpin us as we work to get back to the top of English and European football."

So, in theory, Chelsea could low-ball United, knowing their Premier League rivals are strapped for cash. Nevertheless, speaking to reporters on Friday ahead of the Blues' clash against Manchester City, Maresca was quizzed on his options on the wing.

"I'm happy with the ones we have in this moment," said the Chelsea boss. "I have said many times, on the right side is Pedro [Neto] and Noni [Madueke] and on the left side is Jadon [Sancho].

"Misha [Mudryk] was with us but now he is not with us, Tyrique [George] is a young profile that can help us. In this moment, we are okay."

Following United's 2-1 win over Rangers in the Europa League on Thursday, Ruben Amorim was quizzed on Garnacho's future. The Portuguese tactician said: "I'm focused on the games and he's here. He's a player for Manchester United. He was really important for us today and let's see in the next days."

Amorim added: "I think he's improving in every aspect of the game. You can see it until 90 mins he's always there recovering and helping, sometimes showing some frustration and that is good because he wants more.

"I think he has potential to be so much better in every situation in the game. What I can say is he understood what I was trying to do, was really clear, I just want to help them but in the end it's them that do the job."