Alvarez was the top scorer in the Argentine Primera Division last season as River Plate won the title.
At just 21 years of age, he has already cemented himself as his country’s next big talent.
And having already earned six caps for Argentina, this piqued the interest of English champions City.
The two clubs agreed a deal to bring him to the club in summer, remaining on loan at River Plate until then.
And his move could see Cavani leave the Red Devils in the summer to become their replacement for Alvarez, according to the Daily Star.
Cavani will be an affordable target for the Buenos Aires club given the fee they have received for the prodigy.
Cavani currently earns over £250,000-per-week at United, meaning he will have to take a significant payout at River Plate.
However, he will look to still earn a big wage in the Argentinian capital.
And the German boss recently asserted his transfer plans.
“I know which players would want to leave,” Rangnick said.
“I know that there are some negotiations with clubs but I am not involved in that. I will probably be posted and made aware if something is happening.
“We will all have to wait and see what happens.”
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