The 20-year-old spent a season-long loan spell at Wolves last campaign but failed to impress, only registering six league appearances. Despite this, Dutch giants Ajax are willing to offer the youngster an escape route from Old Trafford, who have the need to replace the Crystal Palace-bound Jairo Riedewald.
Reading and Leeds also waiting in the wings should he wish to remain in England.
In an interview with FourFourTwo back in December, Borthwick-Jackson said of Red Devils manager Jose Mourinho: "He's always keeping eyes on me and he has people watching.
"When I first came into pre-season I got injured early on, and as I recovered he asked me how I was and things like that.
"When I came back he said: 'the squad's a bit too big but I see a future for you here' and that I'm a 'top player'. He told me to go out and get some experience."
Jose Mourinho doesn't have a great track record when it comes to bringing through youth players at the clubs he has managed, and if Borthwick-Jackson's words are to be believed it would seem as though the Portuguese tactician may have had high hopes for the defender.
However, after failing to make an impact with Wolves, Mourinho appears to have decided that the U20 England international will not make the grade at the highest level.