Reports says Cardiff City is ready to launch an ambitious move to sign the 35-year-old, who is out of contract at the end of the season.
It is believed United boss Sir Alex Ferguson is also ready to offer Giggs a new one-year deal to stay at Old Trafford.
“The fact people are prepared to believe we are capable of signing a player like Ryan Giggs does go to show how far Cardiff City has moved forward in recent years,” chairman Peter Ridsdale told The South Wales Echo.