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"Both clubs are in agreement (on the value of the agreement) and there is still work left," said the Northern Irishman. "It's a great player, not a player we wanted to lose."
Maguire's transaction is estimated at 80 million pounds (about $ 97 million).
The defender, who played 20 caps for the England team, will undergo a routine medical checkup this weekend, before his official transfer to the BBC and Sky networks.
"He's a global player, he's also a good guy, he knows his interest and he's been a professional player all summer."
Maguire will be the third player drawn this summer by Aaron Van-Pisca from Crystal Palace and Welshman Daniel James from Swansea.
Maguire, 26, has played 69 league games with Leicester since arriving in Hull City in 2017 and signing a contract with Leicester for five years in September.
United is also seeking to join Juventus striker Paulo Debala in a reciprocal agreement that will see the transfer of the Belgian Romilo Lucaco in the opposite direction.
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