Pereira recently admitted he is growing frustrated with a lack of first-team opportunities at Man United and that he may need to leave the club on loan.
Leicester are interested in a short-term deal for the youngster but they face competition for his signature from PSV Eindhoven and Malaga.
If Louis van Gaal is really not going to give Pereira a look in at United anytime soon, then perhaps a loan move is the best way forward for the Brazilian.
However, it is unlikely that United would be willing to let him go to Leicester, despite the fact he does need game time.
The Foxes are currently joint top of the Premier League and United have to view them as competitors for Champions League places, despite the fact they were relegation candidates last term. Perhaps a move to a team lower down in the league or in the Championship would be a good switch for Pereira.