Wayne Rooney will take a huge cut in wages to rejoin Everton, with Manchester United forking out millions to pay up the final year of his contract.

Sportsmail understands Rooney has agreed to a salary reduction of around 50 per cent to facilitate a return to the club he supported as a boy.

The 31-year-old earns upwards of £300,000 a week at Old Trafford after sponsorship add-ons. His wages back on Merseyside will be nearer £150,000.

Wayne Rooney will take around a 50 per cent pay cut to return to boyhood club Everton

Manchester United could pay more than £15million paying up the rest of Rooney's contract

That is still a significant outlay for Everton, who were prepared to pay striker Romelu Lukaku — heading in the opposite direction — a similar figure before he indicated his future lay away from Goodison Park.

Paying up the final season of the four-year deal Rooney signed in 2014 could cost United more than £15million, with the potential of a loyalty bonus on top of his salary — something Robin van Persie was afforded to the tune of £8.4m when he left for Fenerbahce two years ago.

Rooney’s basic wage of £230,000 a week decreased to £180,000 last season after United’s failure to qualify for the Champions League, in line with club policy.

His agent, Paul Stretford, was stationed at Goodison Park on Friday as the relevant parties attempted to thrash out the intricacies of a switch that has been in the pipeline for months.

United rejected a January loan bid from Everton but Rooney is now set to return permanently

United rejected a January loan bid from Everton for Rooney, who has spent this week in Liverpool taking spin classes run by his wife Coleen’s older brother, Anthony.

Everton hope the free transfer can be agreed early next week, with Lukaku expected to remain in Los Angeles with his friend Paul Pogba, the Manchester United midfielder, ahead of United’s pre-season training camp in the United States.

The Merseyside club were furious that Lukaku failed to report to Finch Farm for training this week but there is an acceptance that they will lose their talisman for £75m.

Everton manager Ronald Koeman, however, has insisted on landing Rooney after being sold the idea of bringing him home by first-team coach Duncan Ferguson last season.

Paul Pogba and expected Man United signing Romelu Lukaku have been training together

Koeman has already spent almost £100m on an ambitious overhaul this summer. The Dutchman has added Malaga striker Sandro Ramirez for a bargain £5.2m, with eyes also set on two more attacking targets beyond Rooney.

Swansea’s Gylfi Sigurdsson is valued at more than £30m, while Olivier Giroud’s future at Arsenal looks set to come to an end — although Marseille are hoping to beat Everton to the France striker’s signature.

Wolfsburg forward Anton Donkor has rejoined Everton on loan after his previous spell last season was disrupted by injury.

The 19-year-old has agreed an initial deal until January 2 and will again link up with the club’s Under 23 side.