The Daily Express claims Ferguson will launch a summer spending spree in a bid to prevent United from being replaced by neighbours City as the dominant force in the Barclays Premier League.
United are set to finish the season empty handed following Monday's 1-0 derby defeat to City which left the champions trailing their city rivals in the title race on goal difference with just two games left to go.
"All the pressure's now on City," former United defender Gary Neville said on Sky Sports.
"They play first up at Newcastle so United will know exactly what they need to do [by the time they kick off against Swansea at Old Trafford], or even if they've got a chance."
Should United manage to wrestle the title away from City's grasp, the manner in which the club have performed at times this season is unlikely to go unchecked by Ferguson. Early exits from the UEFA Champions League, FA Cup and League Cup have already spurred on the Red Devils boss to decide that he must open the cheque book this summer.
"I'm sure [Ferguson] he'll improve his squad. I think he has to," Neville said.
"He's an honest person and he'll recognise there are areas of the squad he needs to strengthen."
The Express report went on to name Lille's Eden Hazard and Tottenham's Luka Modric as the Scot's first picks to fix United's lack of creativity in midfield while the newspaper also understands that Athletic Bilbao's Fernando Llorente, who scored in both Europa League legs against United, will be signed to boost his attack.
The full-back positions have been a source of weakness in the United defence all season long and according to the newspaper Valencia left-back Jordi Alba is a transfer target as well.
Meanwhile, the agent for United starlet Paul Pogba claims his client will make a decision on his future next week.
The Frenchman is out of contract in the summer and has yet to pen fresh terms at Old Trafford following months of talks.
Juventus are very interested in snapping up the 19-year-old.