Pogba rejoined the club from Juventus in the summer of 2016 for a then-world-record £89million.
The Frenchman’s performances across the last three seasons have been mercurial, though, and Manchester United could cash in on the star, who they value at £150m.
That income would allow United to buy at least two top talents - but Collymore believes the club should steer clear of the big-name transfer approach they have employed in recent years.
Signings such as Alexis Sanchez, Angel Di Maria, Romelu Lukaku and Pogba have, on the whole, underwhelmed and the former striker outlined three men who United could target in Pogba’s wake.
“Of course, if Pogba is allowed to go, then Ole Gunnar Solskjaer will have big money to reinvest,” Collymore told The Mirror.
“I’d go down a different route to the Galacticos-like path United have trodden in recent seasons.
Man Utd should sign Matteo Guendouzi, James Maddison and Declan Rice if Pogba quits - Stan Collymore (Image: Getty)
Man Utd are interested in Declan Rice but West Ham have fended them off (Image: Getty)
I’d be looking at [Declan] Rice, James Maddison and Matteo Guendouzi, three players who would thrive at United.
Stan Collymore
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“I’d be looking at a mixture of [Declan] Rice, James Maddison and Matteo Guendouzi, three players who would thrive at United.
“They’re young, talented, you could bring them up together and even have a little change left over from Pogba – even if you signed all three.”
The Leicester playmaker registered seven goals and assists apiece in his debut top-flight campaign but is happy to continue his development at Leicester.
Arsenal midfielder Guendouzi, 20, made 33 appearances in the league under Unai Emery and showed aptitude on the ball as well as a strong work ethic, but United are not keeping tabs on the Frenchman.