Milan would like to close the deal in the next few days to avoid other clubs, perhaps Champions League contenders, from getting involved; this could happen if Hojlund gives his definitive "yes". In the meantime, Milan are working with United to reach an agreement: the formula, a loan with an option to buy, has already been agreed, but the figures have yet to be finalised.
Milan would like to pay €3-4 million for the loan and set the buyout at around €30-32m, while United are asking for more: €7-8m for the loan for a total deal of between €40m (£35m/$47m) and €45m (£39m/$53m) including bonuses. There is a gap in valuation, but the player's desire could make the difference.