Speaking on the La Liga Weekly Podcast, Balague explains that both Premier League sides had opportunities to sign the midfielder, but does not rate their chances now.
Niguez scored the winning goal in Atletico's Champions League semi-final first leg win over Bayern Munich last week, an excellent individual strike which saw him dribble past three players before shooting into the net.
It was a breakout moment for the highly rated central midfielder, who is still just 21-years-old.
Balague explained: "Saul was offered to Everton when he was 18, and they said no, and he was offered to Manchester United a year-and-a-half ago and United decided not to go for him."
His price will have increased, and while they could probably afford it, they would at that point be paying over the odds. Everton on the other hand, have surely missed their chance, despite recent investment from overseas into the club.