The 53-year-old is the clear favourite to fill the vacant position at Old Trafford after United sacked Louis van Gaal on Monday night.
Ronaldo has been linked with a move away from Real Madrid for much of the season, with Los Blancos thought to be reluctant to offer the 31-year-old a new contract.
The 20-time English champions have been linked with a swoop for their former striker regularly over the past 24 months but a transfer has failed to materialise.
Sky Sports expert Balague doesn’t believe the Paris Saint-Germain target would want to work with Mourinho at Old Trafford after a breakdown in their relationship at The Bernabeu.
“Somehow I don’t think Jose Mourinho and Cristiano Ronaldo will ever cross paths again. The relationship broke down when they were at Real Madrid and I’m not sure that will be rekindled,” Balague told Sky Sports.
“There’s clearly an offer from PSG to get Ronaldo. It’s a high offer but maybe not high enough for Real Madrid.
“There’s a private agreement between Jorge Mendes and PSG for Ronaldo to go to France but if Real don’t feel there is anyone of that calibre in the market, not only will they keep him but they may actually renew his contract for a couple more years.”
Van Gaal was given the chop despite leading United to their first piece of silverware in three seasons after winning 2-1 in extra-time against Crystal Palace in the FA Cup.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news