The Red Devils are believed to have reached an agreement with the 63-year-old to become the club's head coach for the remainder of the season before taking on a two-year consultancy role.
However, Rangnick is currently working for Lokomotiv Moscow as head of sports and development, and he is yet to be released from his contract with the Russian outfit.
According to Sky Sports News, the 20-time English champions are hopeful of announcing the German as their new interim manager within the next 48 hours.
The report claims that Rangnick will officially apply for a work permit once Man United have come to an agreement with Lokomotiv.
Michael Carrick led the Red Devils to a 2-0 win over Villarreal in the Champions League on Tuesday night and will remain in the role for Sunday's Premier League clash with Chelsea. body check tags ::