Lyon confirmed the Netherlands international's arrival on their official Twitter account, posting a photograph of Memphis with the caption "Memphis Depay has arrived in Lyon to discuss the terms of his future contract with OL, accompanied by his agents who will arrive on Thursday."
The Ligue 1 side are expected to pay an initial £15 million for the winger, but that fee could reach up to £21.7m due to bonuses and add-ons.
Memphis Depay est arrivé à Lyon pour discuter des termes de son futur contrat avec l'OL, assisté de ses agents qui arriveront ce jeudi. pic.twitter.com/yIAxf3NDyK— Olympique Lyonnais (@OL) January 18, 2017
After falling down the pecking order under Jose Mourinho at Old Trafford, Memphis was linked with a move to Everton, but United were unwilling to let him leave on loan.
The 22-year-old arrived at Manchester in the summer of 2015, but played just 33 total Premier League games despite a solid start under then manager Louis van Gaal.
Memphis has made just one start for the Red Devils this season, playing 55 minutes of the EFL Cup clash with Northampton Town, and will join Lyon in the next few days once a contract is agreed with the club.