The Red Devils made a formal offer for the versatile 24-year-old defender on Saturday, but according to De Telegraaf, the Dutch giants will reject that approach.
United are said to have offered € 41 million with an additional € 4 million in bonuses, but Ajax are holding out for closer to € 50 million.
Mikel Arteta wants to sign Martinez to act as cover for Gabriel Magalhaes and left-back Kieran Tierney who missed the run-up last season due to a serious knee injury.
However, it is said that Martinez prefers a move to Old Trafford where he would join his former manager Erik ten Hag.
Ten Hag was forced to wait patiently to make additions to the team he inherited from Ralf Rangnick.
United are hopeful of making significant progress in the next 10 days with the finalization of a move for Frenkie de Jong a priority.
The Red Devils also expect to confirm the signing of left-back Tyrell Malacia in the next 48 hours after overcoming a late complication.
Ten Hag is also keen to beat his former club for Brazilian international wing Antony, while United are also awaiting Christian Eriksen’s decision on his future.
The Danish international is considering a competitive offer from Brentford, but his former club Tottenham have cooled their interest.
MORE: Chelsea are ready to beat Frenkie de Jong if Manchester United’s move falls through
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