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Olympique Lyonnais star Memphis Depay has reached an agreement with AC Milan ahead of a proposed £35m switch this summer, according to reports.

The Dutchman only moved to the Groupama Stadium from Manchester United 18 months ago, but Depay has taken Ligue 1 by storm and he already looks set to secure a move away from France this summer.

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Italian outlet Rai Sport (via SempreMilan) have reported that the 24-year-old has reached an agreement with Milan ahead of the new season which could see Depay pocket over €20m over the course of his five-year contract at San Siro.

The Rossoneri are yet to reach an agreement with Lyon over the transfer but it is expected that an offer of £35m will be enough to push the deal through - a price tag which Milan are willing to match.

And Depay's former club Manchester United are looking set to have their own transfer kitty boosted if the Dutchman's deal with Milan goes through.

The Express have reported how United inserted two clauses into Depay's contract at Lyon; a buy-back clause and a sell-on clause.

Although José Mourinho's side will almost certainly pass up the opportunity to activate the former of the two clauses, United will stand to make up to £7m if Depay secures his move to San Siro this summer.

The extra cash could allow United to bolster their squad even further this summer. The signing of Shakhtar Donetsk midfielder Fred has already been completed, and 19-year-old Diogo Dalot from Porto looks set to follow over the coming days.