United have moved quickly to sign the Brazil international and opened talks with Wolves on Tuesday, with Cunha now expected to undergo a medical in the next few days.
Ruben Amorim, the United manager, has identified Cunha as a priority target as the club prepare for a busy summer following a hugely underwhelming campaign.
Cunha is available for a set price after inserting the clause into the new contract he signed shortly after the January transfer window closed.
Wolves have stipulated that the £62.5 million should be paid in three instalments, over two years. United’s initial proposal was to stretch the payments out over five years, which was rejected by Wolves. However, negotiations continued and an agreement was reached at around 7.30pm.
It is understood that Cunha, a £43 million signing from Atlético Madrid in December 2022, has already agreed personal terms over a move to Old Trafford. His wages are expected to increase significantly from £120,000 a week to around £200,000 per week.
Cunha can operate across the front three, which appeals to Amorim, who has been assured he will remain in charge for the 2025-26 season.
Vitor Pereira, Wolves’ head coach, has accepted that Cunha will be sold and talks are now under way to complete a deal this week.
Pereira is keen to reshape his squad this summer and is confident Cunha’s departure will not weaken his team.
Despite Cunha’s undoubted quality, Wolves won three and drew one of the four games when the forward was suspended earlier this year.
After Wolves’ final game of the season at home to Brentford, Pereira said: “Sometimes in our life we need to make decisions, if they decide for another way I wish them the best and will keep them in my heart. I’m very grateful for what they did in the last months.
“This is a group of players, maybe the best group that I have worked with until now.
“We don’t know if the players that will leave, maybe some of them will leave, but we want to keep the base. Maybe [it was] the last game from some of them.”