David Moyes' side attempted to tie up a last minute loan deal for the Portuguese international on transfer deadline day but saw their efforts thwarted when Real pulled the plug at the last minute.
United may be tempted to reignite their interest in the full back when the January transfer window opens, given Everton's reluctance to listen to offers for Leighton Baines, for whom they rejected three offers from David Moyes' side in the summer.
Should the Premier League champions decide to mount another effort in January they will face competition from Juventus, according to Portuguese publication A Bola, who report the club could tempt the left back with a permanent offer with the promise of first team football in the new year.
United's efforts to sign the Portuguese international did not come to fruition late into the final hours of the transfer window, but their bid to secure the 25-year-old's services appeared to be close to paying off until Real Madrid cancelled the deal after they were unable to bring in addition cover for the left hand side of their defence.
Despite reports suggesting Coentrao was left devastated after his prospective move to Old Trafford fell through, the full back maintains he is still happy to be at the Bernabeu insisting he is already playing for 'the best club in the world'.
"It would have been better if I had to stay despite having the chance to move to a better club, but that didn't happen as I already am at the best club in the world," Coentrao told O Jogo earlier this week.
"It want to do better than I did last season, although I was at a very high level already. I want to show everyone that I deserve to be at Real Madrid."
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