Manchester United have £100million transfer budget but may not spend any of it this month

Struggling champions' board will only fork out on specific targets not panic buy, and they are unlikely to go back for Herrera or pull off deals for Koke or Baines

David Moyes has around £100million to salvage Manchester United's season, but has been told not to spend it on "quick-fixes".

Chief executive Ed Woodward is willing to bankroll investment in manager Moyes' squad, with the champions struggling to guarantee a top-four finish and Champions league football next season. But the Old Trafford board are adamant they will not panic buy and will only sanction spending if the Scot can land specific targets he has already identified.

And with Moyes admitting he may not buy at all this month, United's proud record of never having finished out of the Premier League's top three is in doubt.

The Reds are understood to have ruled out a January move for Athletic Bilbao midfielder Ander Herrera, whom they tried but failed to sign last summer.

They are also likely to fail in their efforts to land another Spaniard, Atletico Madrid playmaker Koke, whom Moyes has had watched several times.

Although the former Everton manager will make a third and final attempt to sign Leighton Baines from his previous employers, United are not hopeful of a deal being struck.

It means the Old Trafford fans face the prospect of seeing the rest of the season played out by the same group of players who have already fallen 11 points behind leaders Arsenal in the title race.