The Spain international signed for the Red Devils in January 2015 but made just two Premier League appearances and found himself ostracised by Louis van Gaal after refusing to represent United’s U21 squad.
The 34-year-old has now been released by the Old Trafford outfit, after ending the 2015/16 campaign on loan at Standard Liege in Belgium – where he made eight appearances across all competitions.
But according to The Guardian, Valdes could be offered another chance in the Premier League by United’s local rivals Manchester City.
The 6 foot shot-stopper rose to prominence under Pep Guardiola at Barcelona, winning two Champions League titles together, and the former Nou Camp boss is due to take over at the Etihad Stadium this summer.
It appears Guardiola is seeking a reunion with Valdes, suggesting deputy goalkeeper Willy Cabarello will leave the club during the coming transfer window.