Miranda has become the surprise transfer target for Manchester United, with the Red Devils said to be ready to pay his €30 million release clause.
The Atletico Madrid defender is highly regarded, and his athleticism would make him a natural fit for the Premier League.
The La Liga champions are loathe to lose the centre-back, but the release clause leaves them in a tricky position. They can still try to persuade him to stay with a new deal of course.
They are less likely to do this however, thanks to the possible replacement lined up who could be an even better player than Miranda.
Spanish newspaper El Confidencial report that super-agent Jorge Mendes is pulling the strings with regard to various transfers in and out of Atletico, and is keen to compensate the club for players he helps leave like Diego Costa by doing his bit to ensure quality players arrive at the Vicente Calderon this summer.
"Mendes has put on the table the name of Mangala, central French Porto and is one of the favorites of Simeone."
Mangala has been linked to Manchester United himself, as well as Manchester City and Chelsea, and has been called into France's squad for the World Cup.
He is a similar type of central defender to Miranda, good in the air and on the ground, but is six years younger than Miranda at 23.
It could be a perfect swap, to cash in on Miranda while his stock is high, and sign a player with the potential to be as good if not better for the best part of the next decade.
Should Mangala be Atletico bound, then it can only improve United's chances of getting their man, however they may consider that signing the Porto defender may just be the superior long-term option and better value for money.