A statement read: "Manchester United is delighted to confirm that the club has reached agreement with Juventus for the transfer of Cristiano Ronaldo, subject to agreement of personal terms, visa and medical."
"He scored 118 goals in 292 appearances during his first tenure with Manchester United. Cristiano Ronaldo's return to Manchester is something that everyone at the club is looking forward to."
On Friday, United jumped ahead of the pack in the hunt to sign Ronaldo.
Massimiliano Allegri, Juventus' coach, revealed the five-time Ballon d'Or winner's wish to leave the Italian giants earlier in the day.
Manchester City, the Premier League winners, have been linked with a bid for the Portuguese striker after missing out on England captain Harry Kane.
United manager Ole Gunnar Solskjr, on the other hand, intimated that his club might make a late move to lure Ronaldo back to Old Trafford, with a source close to the deal later telling AFP that Juve had received an offer without providing any additional specifics.
United offered Juve 28 million euros (US$33 million) to recruit Ronaldo, according to Sky Sport Italia, and the two sides agreed on a two-year deal for 25 million euros per season.
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