United have been heavily linked with making a move for an established centre back this summer, but Jose Mourinho had been informed that he first needed to offload one of his five existing central defenders, and the Argentina international is expected to be the player to make way.
Rojo returned straight to Manchester instead of joining up with the rest of the squad in the United States following his post World Cup holiday, where he is understood to be ironing out the details surrounding his future.
According to the Telegraph, the Red Devils approached the Foxes earlier this week and made it clear that they are willing to blow the transfer record for an English defender out of the water by making an offer upwards of £60m for the 25-year-old.
However, Leicester are prepared to make Maguire their second highest paid player - worth up to £100,000-per-week - behind only Jamie Vardy after warning United that their star man was not for sale, with Claude Puel eager to build his side around the England international.
The Foxes remain firm in their stance that they have no desire or need to sell Maguire after sanctioning Riyad Mahrez's £60m move to Manchester City earlier in the window, where they have the added bonus of the defender having four-years left on his existing contract at the King Power Stadium.
The report claims only an offer more than £70m would see the Foxes re-evaluate their stance, a fee which would easily surpass the current record for an English defender held by Kyle Walker following his £50m move to City last year.