Reina, it is claimed, is set to leave Anfield at the end of the season, but Liverpool will inform Manchester United that they must pay in the region of £15 million to secure the signature of the 30-year-old.
The Spain international has been linked with a return to Barcelona, where he started his career, and Reina's father has encouraged the Liverpool custodian to return to the Camp Nou.
Barcelona are on the lookout for potential replacements for Victor Valdes, who has informed the Catalans that he will not sign a contract, although Tito Vilanova could seemingly be contested by Sir Alex Ferguson in pursuit of Reina.
The Manchester United manager is reportedly considering allowing De Dea to leave OId Trafford - the young Spaniard has also been linked with Barcelona - and Reina would certainly be a more than adequate replacement.
Given his strong bond with Liverpool, however, Reina could be forgiven for vetoing a transfer to Manchester United, even if Brendan Rodgers has reportedly started looking for his long-term successor.
Reina has played 379 times for Liverpool since his transfer to Anfield in the summer of 2005, and has kept 167 clean sheets during almost eight years on Merseyside.