The winger, who arrived from PSV Eindhoven for £25 million last summer, has struggled at Old Trafford having been outshone by the likes of Jesse Lingard, Marcus Rashford and Anthony Martial.
And if he does leave, Depay will become yet another player left in the shadow of Cristiano Ronaldo, who remains the last player to do the famous shirt justice.
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The Dutchman isn't alone, though. Several players before him have donned the no.7 yet failed to live up to it's heritage.
Here's three former/current players to have done so.
Sir Alex Ferguson sprung many surprises during his time as manager, but the signing of Michael Owen in 2009 must rank as one of the strangest.
The striker had suffered relegation with Newcastle United mere months previously, yet Ferguson signed him as backup to first choice duo Wayne Rooney and Dimitar Berbatov.
Owen's most memorable moments include a last-gasp winner against Manchester City in the derby and an impressive hat-trick away at Wolfsburg, but he never quite rediscovered his best form.
He left the club after United missed out on the Premier League title in 2012, making way for Robin van Persie and passing the shirt number onto Antonio Valencia.
Having become an integral part of the Red Devils' 2011 title-winning squad, Valencia was given the no.7 shirt ahead of the 2012/13 season.
However, the Ecuadorian suffered an alarming dip in form and found himself playing second fiddle to the likes of Nani and Ashley Young down the flanks thereafter.
Valencia's career has stagnated ever since and even despite reverting to his old number (25) in 2013, he now finds himself best utilised as a full-back under Louis van Gaal.
The 30-year-old’s versatility is an asset, but his future at Old Trafford appears bleak.
ANGEL DI MARIA
Many believed United were landing one of the best players in world football when they splashed £60 million to sign Angel Di Maria from Real Madrid in 2014.
His hefty fee looked a bargain during the early weeks of the season, with a stunning solo goal against Leicester City proof of his outstanding ability.
However, problems on and off the field saw him struggle and, despite weighing in with ten assists, he lost his place to Young for the final few months of the campaign.
Di Maria is now back to his best in France with Paris Saint-Germain and proving that United squandered his talent.