The Brazilian ace has been one of the Rojiblancos’ star turns in recent seasons, with his commanding displays at the back having helped the club to Spanish league and cup successes and an appearance in the Champions League Final.
His performances in Madrid have caught the eye of United, who were linked with a summer raid for the 30-year-old.
Although the reported swoop failed to come to fruition, Louis van Gaal has remained keen on the enforcer and is ready to make a move in the New Year.
With the losses of Nemanja Vidic and Rio Ferdinand at the end of last season, the Old Trafford giants have struggled defensively, with rookies such as Paddy McNair and Tyler Blackett having played key roles in big games already this campaign.
Miranda is seen as an experienced option to bring an authoritative presence to United’s backline as they plot to return to Champions League football after a difficult 18 months.