Alex Ferguson has instructed Manchester United's board to reinvestigate the possibility of prising Patrick Vieira away from Arsenal.
Sources both inside and connected to the club have confirmed that following the departure of David Beckham to Real Madrid, the Premiership champions are ready to respond in spectacular style with a €31.5 million bid to lure perhaps the most sought-after midfielder in Europe.
There has been no official contact between the clubs but United's inquiries have not been so discreet that Highbury officials are unaware of Ferguson wanting to conclude what he considers to be unfinished business.
United tried to sign Vieira two summers ago when, according to Ferguson, the French midfielder gave his word he wanted to join, only for Arsenal to veto the move after a public war of words with his agent at the time, Marc Roger.
With only a year remaining on his contract, Arsenal are becoming increasingly twitchy as Vieira dithers about signing a new deal that would keep him at the club until 2006.
However much their manager Arsene Wenger will be loath to admit it, the directors with financial responsibilities would have to be sorely tempted by a €31.5 million offer.
Ferguson expects a hostile reaction from Wenger and knows he has only an outside chance of success but the United manager is determined, at the least, to make it clear a career is open to Vieira at Old Trafford.
Were Ferguson to succeed, it would represent one of the most audacious and controversial moves in his 29 years of management and a transfer more daring than that of Madrid's pursuit of Beckham.
In a team already comprising Ruud van Nistelrooy, Paul Scholes and Roy Keane, with the Brazilian superstar Ronaldinho possibly to come, it would effectively end the argument about the destiny of next season's championship before a ball has even been kicked in anger.
Wenger might have something to say about that but Beckham's transfer highlights the fact that every player is available at the right price - especially one who could feasibly leave fee-free next year.
Ferguson will also be aware that Vieira must be disillusioned by the manner in which Arsenal surrendered the league title and their continued failings in Europe. Whereas United have reached the Champions League quarter-finals in each of the last seven seasons, Arsenal have managed it only once in six years and never gone any further.
Nobody could argue that Arsenal's European flaws owe anything to Vieira's performances but whether his frustration is intense enough to make him consider leaving north London is something that Wenger and just about everyone at Highbury would contest.
Another complication for Ferguson, albeit surmountable, is that Vieira, 27 earlier this week, has left Roger and is now represented by Jerome Anderson, an agent with whom Ferguson is not usually willing to conduct business. Nevertheless, United will continue to believe a deal is more plausible as long as Vieira's new contract remains unsigned.
The main reason United's bid failed in July 2001 was because Vieira had three years of his contract remaining and Arsenal were under no pressure to sell. The difference this time is that, in a deflated market, Arsenal's directors would not be doing their jobs properly if they had not taken into account the possibility they could lose a multi-million-pound asset for absolutely nothing in a year's time.
The ideal scenario for everyone at Highbury is for Vieira to sign his contract as soon as he returns from his summer break. The official stance is that "talks are ongoing" and Wenger said only a fortnight ago that he expected Vieira to sign.
In the meantime, however, Ferguson intends to test out his theory, frequently aired in private, that Vieira would gladly swap Highbury for Old Trafford and disregard the damage it would inflict on his standing with Arsenal's fans.
Wenger has recently reassured Arsenal fans that he will be in charge at Highbury next season, despite speculation linking him to Real Madrid. This may now be in doubt if he loses Vieira