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With Luka Modric looking likely to complete a move from Tottenham to Real Madrid, United have been heavily linked with Moutinho, a central figure in Portugal's run to the Euro 2012 semi-finals.
It has even been said the Old Trafford outfit have offered £20million for the 25-year-old.
However, despite claiming last week that he was still hopeful of adding to his squad prior ahead of the new Premier League season, it is understood Moutinho is not on Ferguson's wanted list.
The United boss has already signed one attacking midfielder this summer in the form of Japan international Shinji Kagawa, with another, Nick Powell, signed from Crewe with an eye to the future.
Even the exit of Park Ji-sung to QPR is not viewed as making space for Moutinho and, with doubts remaining over the career of Darren Fletcher, it would appear a more defensive-type player is required if Ferguson feels his midfield still requires strengthening.
However, as Ferguson has also said in the past that any deals that are not completed in the early weeks of the summer tend to drag on until the latter stages, it could well be there are no further additions when United head to South Africa on July 23 for the first leg of their lengthy pre-season tour.
In addition to matches in Durban and Cape Town, United will also visit China, before returning to Europe and matches in Norway, Sweden and Germany before they open their quest to reclaim the Premier League title from Manchester City with a visit to Everton on August 20.
We're screwed, if SAF doesn't buy a midfielder
