Manchester United have agreed a deal with Borussia Dortmund to sign England international Jadon Sancho for an initial £72.6 million, Sky Sports reported.
Dortmund's asking price at the start of the window was in excess of £85m and the deal is also £35m less than the £108m valuation last summer.
United and Sancho will now finalise personal terms ahead of a medical to complete the move. Sancho is expected to sign a five-year contract until 2026.
Sancho, who is currently part of England's squad at Euro 2020, will officially join after England's participation in the Euros, subject to passing a medical.
The forward's contract at Dortmund runs until the summer of 2023 and Dortmund do not want to risk him entering the final year of his deal.
The Athletic understands that Sancho has already started the process of finding a house in the Manchester area.
Sancho's former club Manchester City retain a sell-on clause and are set for a cash windfall from their cross-city rivals should the transfer go through.
The 21-year-old came through Watford's academy before joining City in 2015, but he moved on to Dortmund in 2017 after declining the offer of a new contract at the Etihad.
He has scored 50 goals in 137 appearances for the German heavyweights and helped them win the German Cup last season.
He also finished the 2020-21 season on a hot streak of 13 goals in his last 21 games.