French club Lyon have agreed a deal to sign Memphis Depay from Manchester United for a fee of £16m which could rise to £21.7m.
United have also agreed a buy-back option as well as sell-on clauses inserted into the deal that takes the Netherlands international to the Ligue 1 club.
It was learnt that the fee is £16m rising to £21.7m, with the add-ons including Lyon qualifying for the Champions League and Depay getting a new contract.
Depay will undergo a medical on Thursday ahead of a move to the Parc Olympique Lyonnais.
The 22-year-old joined United from PSV Eindhoven for £25m in June 2015 under the management of his compatriot Louis van Gaal, but fell out of favour following the arrival of Jose Mourinho at Old Trafford last summer.
He has featured just eight times for United under Mourinho, with his last appearance to date coming against Feyenoord in the Europa League on November 24.
Lyon are fourth in Ligue 1, 11 points behind leaders Monaco and eight points behind PSG in third, the closest Champions League qualification place.
Depay, who has also attracted interest from Everton, is set to become the second big-name departure from United this month following the sale of Morgan Schneiderlin to the Toffees.
Schneiderlin, who signed from Southampton for £25m, was sold to Everton on 12 January for a fee rising to £24m.