As reported by ESPN, England international Baines will extend his current deal with Everton:
Left-back Baines, 29, is increasingly likely to sign a lengthy extension to his current contract, which is set to expire in June 2015.
Everton - who are also keen to extend midfielder Ross Barkley's contract beyond 2016 -have been in talks with Baines for several months, and are optimistic they can agree a deal, sources have told ESPN.
That news was also confirmed by football journalist Duncan Castles, who tweeted:
That leaves manager David Moyes with little time to rethink his options when signing a new left-back. So here are three other candidates capable of filling the role.
On a short-term contract, Cole could bring stability to the position and has the experience, having won everything with Chelsea, to slot straight into the United side.
This would probably only be a last resort, since holding onto Patrice Evra for another season would be preferable.
Likely more expensive than Cole, the Southampton youngster could potentially become United's left-back for the next decade and become a watershed signing for the Moyes era.
United have failed to attract the top names since Sir Alex Ferguson's departure, but if they were to beat Chelsea and Manchester City to the signature of the in-demand 18-year-old, per Danny Griffiths in the Metro, it could galvanise them and enhance Moyes' reputation.
An archetypal modern full-back, Shaw is energetic and capable of overlapping on the wing to assist attacks as well as being comfortable in dead-ball situations.
The Portugal international is versatile and capable of playing higher up on the left wing or in a defensive midfield position, which would give added depth to United's squad.
The fact that a permanent transfer hasn't been spoken about suggests that Moyes is not fully convinced by Coentrao and only views him as a stop-gap.
Coentrao may not be the long-term solution that United need at this moment in order to re-establish themselves among the top teams in the Premier League.