Chilwell has been strongly linked with Chelsea and Manchester City ahead of this summer's transfer window, but a recent report claimed that the England international was also a £60m target for United.
According to The Mirror, should the 20-time English champions move for the Foxes defender then Shaw 'could be sacrificed' despite arguably enjoying his best season for United.
Shaw has been in impressive form for Ole Gunnar Solskjaer's side this term, contributing one goal and three assists in 32 appearances in all competitions.
The 25-year-old still has three years left to run on his contract at Old Trafford, meanwhile, and the club have the option of activating a further 12 months until June 2024.
United will be looking to move into the top four in the Premier League table when they welcome Southampton on Monday night. body check tags ::