Lyon have reached an agreement "in principle" to sign Memphis Depay from Manchester United, according to club president Jean-Michel Aulas.
It was reported on Wednesday that Netherlands international winger Depay had sealed a switch to the Ligue 1 club, ending a nightmare spell at Old Trafford.
Aulas told L'Equipe this was the case, with the finer details to be hammered out, while suggesting the numbers involved could be in excess of those being widely speculated - namely a transfer fee that could eventually rise to EUR25million.
"I got an agreement in principle early in the afternoon with Manchester United that remains to be detailed but on a basis higher than the circulating information," Aulas said.
Depay inspired PSV to the Eredivisie title in 2014-15, but did not maintain his stellar form under his former national-team boss Louis van Gaal at United last season, scoring twice in 29 Premier League appearances.
The 22-year-old has almost entirely fallen out of the first-team picture with Jose Mourinho at the helm this time around.
His solitary start came against Northampton Town in the EFL Cup and the last of four brief substitute cameos in the Premier League came in the 0-0 draw versus Burnley in October.
Lyon's official Twitter account started following Depay on the social media site on Wednesday and he is poised to join a club fourth in Ligue 1 - 11 points behind leaders Monaco and Nice.
Bruno Genesio, Lyon's head coach, last week labelled Depay as his club's priority transfer target for the January window, while Mourinho said United were waiting for a "reasonable" bid that now appears to have arrived.