Hojlund has confirmed his desire to stay and fight for his starting spot up front, despite a difficult first two years at Old Trafford, but his future remains uncertain with new £74million signing Sesko set to spearhead Ruben Amorim's new-look attack.
Sesko will have a medical on Friday before being unveiled as a United player on Saturday.
Fabrizio Romano adds that United are open to letting Hojlund leave on loan with an option to buy this summer, having initially insisted on a £40m permanent exit, while Gianluca Di Marzio report that Milan are in pole position to sign the 22-year-old.
Milan are in the market for a striker and have registered their interest in Hojlund, who scored four league goals last season, after seeing a deal for Juventus’ Dusan Vlahovic stall.
Amorim has been keen to overhaul his attacking options this summer, with Bryan Mbeumo and Matheus Cunha already through the doors at Old Trafford.
Sesko's arrival takes United's spending beyond £200m, and the club needs to sell to offset their significant outlay in Amorim's first summer in charge and Hojlund, who cost £72m two years ago, is one of a number of players United want to get off their books.
Man Utd face competition for £104m Baleba 'from Premier League rival'
Transfer news LIVE: Man Utd to unveil Sesko; Arsenal want Rodrygo; Isak bid
Man Utd to unveil Benjamin Sesko after agreeing £73.7m transfer
Who should win the AXA Startup Angel People’s Choice award?
Marcus Rashford, who joined Barcelona on loan last month, remains United's only departure this summer, though Jadon Sancho, Antony and Chelsea target Alejandro Garnacho have all been told to find new clubs.