The 19-year-old forward was on loan at Deepdale during the second-half of the 2009-10 season, but his temporary stint was cut short by a problematic knee injury that required surgery.
The youngster returned to United because of the problem, but had made enough of an impression at Preston - where he scored two goals in eight starts - to prompt speculation that he could be loaned out for another season.
Preston were believed to be interested in re-acquiring the services of the England Under-21 international, but The Daily Mail reports that newly-promoted Blackpool are now hoping to take the player on loan.
It is said that North End boss Darren Ferguson could be hoping to have some influence over his father Sir Alex's decision, but the lure of Premier League football is expected to see Welbeck head to Bloomfield Road instead.
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