The Ivory Coast international called time on his Manchester City career at the end of the 2017-18 season.
Toure won three Premier League titles, the FA Cup and the League Cup during an eight-year spell at the Eastlands outfit.
The 33-year-old is in the twilight of his career after Toure struggled to hold down a regular starting spot in Pep Guardiola’s team.
Manchester United are short on options in the middle of the park after Michael Carrick retired to become a coach in 2017-18.
The Red Devils could lose Belgium international Marouane Fellaini on a free transfer with his current deal set to expire.
Sky Sports News reporter Sheth poured cold water on talk of Manchester United signing Toure from Manchester City.
“Jose has gone back into his old club for Matic,” Sheth told the Transfer Talk podcast.
“You can’t ever rule anything out in the current market [but] I can’t see it [Toure to Man United].”
Manchester United finished in second place in the Premier League table but ended up 19 points adrift of Manchester City.
The Red Devils lost 10 to Chelsea FC in the FA Cup final at Wembley following Eden Hazard’s winner from the penalty spot.
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