Manchester United Transfer News: Red Devils Boosted in their Pursuit of Di Maria after PSG Officially End Interest in Argentine

Manchester United have been boosted in their pursuit of Real Madrid's Angel Di Maria, after Paris Saint-Germain confirmed that they have given up on the Argentine due to his excessive price tag.

Earlier reports had indicated that the big spending French giants had beaten the Red Devils to Di Maria's signature by making a bid of £60 million.

It was also reported that PSG would be selling some of their players including Edinson Cavani and Ezequiel Lavezzi to balance the transfer of the Real Madrid winger.

However, PSG president Nasser Al-Khelaifi dismissed all speculations at David Luiz's unveiling, confirming that his side would not be signing Di Maria due to his high price-tage.

"Regarding Di Maria, it is true that we have held talk with Real Madrid president Florentino Perez," Al-Khelaifi said, according to Goal. "But he is too expensive for us. We have stopped negotiations."

So this means that Manchester United are now the favourites to sign the 26-year-old, who is reportedly keen to leave the Bernabeu this summer.

The European Champions are also reportedly keen to sell the Argentinean winger to settle their own cheque books following the arrivals of James Rodriguez and Toni Kroos from Monaco and Bayern Munich respectively.

As United have no issues with UEFA's Financial Fair Play regulations and executive vice-chairman Ed Woodward has stated that the Red Devils are not afraid of spending big, Di Maria may be on his way to Old Trafford this summer.

However, according to Spanish newspaper Mundo Deportivo, United may be facing some tough competition from French side Monaco, who have also reportedly joined the race for the Argentine's signature.

Manchester United and AS Monaco could well end up in a bidding war for Di Maria, who will certainly be an excellent signing owing to his excellent form at both club and international level.

Meanwhile, Manchester United legend Andy Cole has backed Danny Welbeck to be a big hit at Old Trafford next season after watching him do well in the pre-seasons,

"I enjoyed watching Danny Welbeck on the tour. He finished it with an injury unfortunately and had to miss the final," Cole told Manchester United's official website. "But I was impressed by the way he came out of the blocks on tour, with a super finish for the first goal against LA Galaxy."