Anthony Martial has signed a four-year contract with Manchester United, according to French radio station RMC.
The contract also includes the option for a further year for the 19-year-old, meaning he could potentially remain at Old Trafford until the summer of 2020.
Martial only signed a new contract with Monaco earlier this summer, but the principality side were unable to say no when Manchester United flashed the cash late in the transfer window.
In France it has been claimed the Red Devils will pay €60m plus a further €20m in bonus payments for the striker, while in England the initial fee is reported to be at £36m (€49m).
Even at the lower figure, Manchester United are making Martial the most expensive teenager in world football.
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Martial's first club in football, Lyon, are set to pocket a portion of the fee as they had inserted a sell-on clause into their €5m sale of the youngster to Monaco.
Manchester United are expected to confirm the signing of the France international striker before the transfer window closes in England at 6pm.
