The Foxes have been holding out for a fee of £80m that would make Maguire the most expensive defender in history, eclipsing the £75m fee that Liverpool paid Southampton for Virgil van Dijk 18 months ago.
United agreed to Leicesters demands a number of weeks ago, with talks since then focused on the proposed deals payment structure.
Now, a report from The Independent describes the transfer as imminent and suggests that the £80m sum will be broken into an initial transfer fee of £70m, plus a further £10m in add-ons.
A line from the newspapers report read, "United staff members feel that the 26-year-old English international will complement the developing Victor Lindelof at the heart of a new-look defence, that will form the foundation of a fast and hard-pressing team."
Leicester manager Brendan Rodgers stated last week that no buyer had met the clubs valuation of Maguire and that he would remain at King Power Stadium until the situation changed. Now, it appears to have changed, with a move to United potentially just days from completion.
Maguire would become not only the most expensive defender in history, he would also break Kyle Walkers £50m record as the most expensive English player of all time after his move to Manchester City.
Maguire began his career at boyhood club Sheffield United, later moving on to Hull and establishing himself in the Premier League with the Tigers during the 2016/17 campaign. He moved to Leicester for around £17m that summer and soon made his senior England debut.
While growing up a Sheffield United fan, it was reported last week that Maguire is keen on making the switch to Old Trafford in order to emulate childhood heroes Rio Ferdinand and Nemanja Vidic.