Wigan have received bids in excess of £16million from Manchester United and Real Madrid for Antonio Valencia, according to Sky Sports News.

The Ecuadorian winger has long been linked with the two European giants and it is now reported that the pair have tabled bids.

United are searching for creativity on the right after big-money signing Nani has failed to live up to expectations and Valencia is said to have impressed boss Sir Alex Ferguson.

Real are desperate to overthrow Spanish and continental champions Barcelona and the 23-year-old was thought to be close to a move in the winter transfer window.

A switch failed to materialise, but it is now understood that newly-elected president Florentino Perez, who has pledged a return to the dazzling days of star signings from his first spell at the Bernabeu, is ready to test Wigan's resolve.

Valencia joined Wigan in 2006 in a loan move from Recreativo de Huelva and the deal was made permanent in January 2008.

The Latics are currently without a manager following Steve Bruce's move to Sunderland, but Roberto Martinez is expected to be unveiled as successor on Wednesday

Sir Alex Ferguson has joined the chase for Sheffield United's £7million-rated whizz-kid Kyle Naughton.

Manchester United manager Fergie had brilliant young right-back Naughton watched in the Blades' 1-0 Championship Play-Off Final defeat by Burnley at Wembley 13 days ago.

And the 20-year-old Sheffield-born starlet did not disappoint.

A source revealed: "Sir Alex has kept tabs on Naughton, but was keen to see how he'd handle the big stage at Wembley.

"The reports he got were very positive. Kyle wasn't fazed and relished the occasion. He came out of the final as United's outstanding performer."

Blades boss Kevin Blackwell is waiting to see if his £1m bid for 22-year-old Southampton midfielder Andrew Surman has been accepted.

Lyon president Jean-Michel Aulas last night opened the door for Manchester United to make a £30million move for striker Karim Benzema.

Sir Alex Ferguson will be looking for a forward if Carlos Tevez rejects United’s offer to turn his loan move into a permanent deal.

Ferguson has kept tabs on highly-rated Benzema, above, for more than two years, having dinner with Aulas after one Lyon match.

Aulas said “Karim said he wants to stay. I don’t want to sell. So he’s here at 99 per cent.

“However, Kaka should not be leaving Milan and he will join Real Madrid. We have entered spiral madness. I am relaxed. I will not say Karim is untransferable.”

Benzema, who scored a penalty for France in their 1-0 win over Turkey last night, said: “If there is a huge offer and the chairman says I have to go, I would probably leave.

“But I will not go and see him and ask to leave. I am 21 years old and I will have time to play for another club.

“The clubs will carry on calling. Everyone is looking for forwards. But I am fine at Lyon.”

Tevez should inform United of his decision after Argentina’s World Cup qualifier next Wednesday, with Manchester City set to pounce if he decides to move on.

Manchester United has signed a four-year shirt sponsorship deal with the insurance giant Aon Corporation.

Aon will replace troubled US insurer AIG, which is restructuring itself having received a $150bn (£109bn) bail-out from the US government.

The new sponsor will appear on Manchester United's shirts from the start of the 2010/11 season.

Aon is based in Chicago and specialises in reinsurance, which is the selling of insurance to other insurers.

Neither Manchester United nor Aon has announced the terms of the deal or how much it is worth.

AIG paid £14m a year for its four-year deal, which ends in May 2010.

There have been reports that Aon's deal could be worth as much as £80m over four years.

Aon said it hoped that its relationship with Manchester United would help to improve its brand recognition.

It pointed out that after its first year sponsoring the team, AIG had become the 47th most recognised global brand and had jumped from number 84 to number 30 on Barron's list of most respected companies.

Cristiano Ronaldo will pick up a staggering £26m if Real Madrid do not sign him by the end of the month, it was claimed last night.

Former Madrid president Ramon Calderon reportedly promised the Ronaldo camp last summer he would do whatever it took to sign the Manchester United winger.

And that means Madrid could have to pay £80m to trigger an alleged buy-out clause in his contract.

Calderon was so confident of landing the 24-year-old, he agreed to pay him 30m Euros (£26m) if a deal was not clinched by the end of June. Ronaldo’s agent, Jorge Mendes, it is claimed in several Spanish newspapers, is said to have agreed to pay the same amount to Real if his client backed out of the move.

United have always denied a deal is already in place to sell the World Player of the Year, while Ronaldo would be unable to negotiate with another club without the permission of his Old Trafford paymasters.

Controversial Calderon resigned as Real president in January and was replaced by Vicente Balouda following allegations of vote-rigging for the confirmation of the budget.

On Monday, Florentino Perez returned to run the club and it is understood he has instructed lawyers to challenge the legality of the pre-contract agreement with Ronaldo’s advisers.

Perez’s plan is to embark on drawn-out negotiations with United, hoping the Premier League champions might be forced to accept £60m to £70m as the transfer window draws to a close.

When asked about the secret agreement, Perez said: ‘I’ve been here for two days and no-one has told me about this.”

His vice-president Fernando Tapias refused to deny the outlandish claim on Spanish radio station Cadena Copè.

It was put to him: “I don’t know what is worse – if the club buys him he will cost 90m euros and if they don’t then it’s 30m.

He replied: “Yes but that is not our fault. He is a great player.

“That the price is exorbitant is also true. Maybe it is down to FIFA to put a 50m Euros cap on transfer fees. ”