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Gary Neville has urged Manchester United to break the bank and hire Atletico Madrid manager Diego Simeone as their next permanent boss.

The Red Devils have started the “thorough process” which will see the fifth permanent successor to Sir Alex Ferguson named later this year. Ralf Rangnick was appointed as interim boss following the sacking of Ole Gunnar Solskjaer, with the German set to take up a consultancy role for the next two seasons.

But all eyes are on who will replace the experienced German in the Old Trafford dugout as United stand at another major crossroads in their recent history. Having been dumped out of the Champions League in midweek, they are now set for their biggest trophy drought in 40 years - with their last major honour, the Europa League, coming all the way back in 2017.

Their decline from England’s top club has been further exacerbated by the fact that it’s United’s rivals Liverpool and Manchester City that have emphatically replaced them. The two clubs are set to go head-to-head for another Premier League title this term, while they could yet meet in the Champions League final in Paris later this year.

The respective jobs Jurgen Klopp and Pep Guardiola have done with their current teams have highlighted the need for United to get their next appointment right, having put together a litany of misses since Ferguson’s retirement in 2013. It is believed that PSG manager