Manchester United manager Ole Gunnar Solskjaer is reportedly set to sign a new contract with the club and will be handed significant funds to spend in this summer's transfer window.

Despite ending the season without a trophy and suffering a disappointing defeat to Villarreal in Wednesday's Europa League final, the Glazers are still allegedly convinced that the Norwegian is the right man to take the Red Devils forward.

According to the Daily Telegraph, Solskjaer will be offered a new three-year contract to stay at Old Trafford, with his current deal set to expire in June 2022.

Both Solskjaer and United's hierarchy acknowledge that in order to make the next step and challenge rivals Manchester City for the Premier League title, new additions to the squad must be made this summer.

The report also suggests that there is a general feeling at the club that this summer's transfer window could define the 48-year-old's reign.

United are prepared to back their manager in the transfer market and will look to target a new defender, central midfielder and a wide forward.

Borussia Dortmund winger Jadon Sancho remains a primary target this summer, while United have also been linked with Aston Villa's Jack Grealish, Real Madrid's Raphael Varane, as well as the potential return of Cristiano Ronaldo from Juventus.