The Dutchman arrived in Lyon on Wednesday night to complete his move to the Ligue 1 side with an initial fee of around £14m agreed between the two clubs.
United are also understood to have inserted both a buy-back clause, and a sell-on clause into the deal, in case Depay does fulfil the potential the Red Devils saw in him in 2015 which persuaded them to give PSV Eindhoven £25m for his services.
However, after a disappointing time at Old Trafford, Depay is on his way out of the club and thanking the fans for their support during his 18 months in the North West.
He wrote on Twitter: “Thanks for all the memories during my time as a Red Devil. I will never forget all your support at Manchester United.”
Jose Mourinho was also quick to dispel any rumours about Depay's attitude and lifestyle leading to his departure, insisting the 22-year-old had a great respect for everyone at the club.
He said during his Friday press conference: "He was a fantastic professional. If someone thinks it didn’t work because he wasn’t a great professional, that’s totally wrong.
One thing is some picture that someone takes with him in an amazing car or dressing in a very specific way, but the image is totally wrong.
He’s a kid that respected everyone and worked hard to have more chances, a kid that was frustrated because he was not having that.
The move will be made official on Friday, with Lyon’s president Jean-Michel Aulas confirming his delight at the move being completed.
“We’ve bet on a player who wants to show his immense talent,” Jean-Michel Aulas told RMC Sport.
“There was a lot of interest in him from his time with Holland and in Eindhoven, where he had two fantastic seasons.
“When you see him developing, you get the impression that he really wants to show his immense talent. So we hope, as we hoped with the women’s team by bringing in [US women’s international] Alex Morgan, and we are not disappointed.
“It was a dream because he corresponds exactly with the player we were looking for. In addition, he has a certain panache.
“It’s true that Jose Mourinho didn’t play him that much, so there was an opportunity for us to negotiate with Manchester United.
“For the moment, we’ve got an agreement in principle but we still need to write up a contract, which is a bit complicated because there are quite a few bonuses.
“This is a big operation, because I think it will be around 16.5million euros, with up to eight million in bonuses. It’s a major investment.
“It’s ongoing but it will take, I think, another 48 hours for him to be registered.”
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