Both sides have denied reports that the Red Devils tabled a 48.1m euro offer for their young star, while the player's father also laughed off any speculation about a move.
Reports had suggested that the Red Devils were ready to splash 48.1 million euros for Neymar, who has scored 111 goals in 185 appearances for his club.
Goal.com understands that United was priced out of a move for the Brazil international, who has a 63.3m euro buyout clause at Santos.
The Old Trafford outfit had previously pursued Neymar's fellow countryman Lucas Moura earlier this summer but was unable raise funds for a 38m euro move for the Sao Paulo attacker.
However, after the playmaker joined big-spender PSG, which also signed the likes of Thiago Silva and Zlatan Ibrahimovic from AC Milan, the Premier League outfit reportedly turned its attention to Neymar and tabled a bid.
A Manchester United spokesperson dismissed the rumor, telling Goal.com: "It was total rubbish."
Santos' director of football Felipe Faro has also denied the speculation, insisting he does not know where the rumors came from and revealing that no transfer offer was received.
He told Globo Esporte: "I have no idea where that came from, but it's not true."
The South American has consistently been linked with a move to La Liga duo Real Madrid and Barcelona ever since he exploded onto the scene in Brazil, but the player has always indicated that he is happy in his native homeland for now, with the club also delighted to keep hold on him.
His father, Neymar Santos, also laughed off the reports that he was the subject of an offer, joking: "Neymar was sold two years ago but we are still here."