Manchester United have already shelled out £30m on defender Eric Bailly this summer as part of his overhaul.
He has signed four players - Bailly, Zlatan Ibrahimovic, Henrikh Mkhitaryan and Paul Pogba - and kicked off the season with a win over Bournemouth last Saturday.
Earlier this week Fonte admitted he was flattered by the interest in him.
He said: "If the interest is there it is a reason to be flattered to be associated with a club like Manchester United.
"But I have a contract with Southampton, and I’m just focused on my work, to make a great season.
GETTY
Jose Fonte is in the Southampton squad for the clash with Manchester United
"I will not deny that Manchester United is one of the biggest clubs in the world and that makes me happy to be associated with it.
"But to be Manchester United’s player is a big difference."
And the Daily Star reported earlier that Fonte was keen to move to United.
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