Both clubs are vying for either a Champions League or Europa League place for next season.
UEFA rules do stipulate that clubs owned by the same group should not compete in the same competitions.
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However, The Mail states that United minority stakeholder Sir Jim Ratcliffe has struck a deal with UEFA.
The club have been engaging in talks with the governing body to ensure there are no issues next season.
United even invited UEFA general secretary Theodore Theodoridis to Old Trafford last month.