Manchester United are set to finally clinch the £12million signing of Wilfried Zaha in a deal which will see the 20-year-old spend the rest of the season on loan at Crystal Palace.

Standard Sport understands negotiations between the clubs have been taking place all week and are close to being completed.

It is believed United will pay an initial fee with the rest of the £12m coming through add-ons such as club appearances and England caps.

Palace chairman Steve Parish has been determined to hang on to his prize asset as the club stand a great chance of winning promotion to the Premier League.

The 20-year-old has been key in their climb up to third in the table and his form also won him his first cap in November.

Parish has maintained he wanted £20m for Zaha and that, ideally, he would only sell him at the end of the season.

It is thought the reason for this stance was that he hoped the attacking winger would have a strong climax to the campaign to encourage a higher bid from United or convince Tottenham and Arsenal to make an offer.

However, it is understood some leading figures at the club have told Parish he should accept United’s bid, especially as they will still have him on loan to help them win promotion.

The funds could also be reinvested in the transfer window this month to boost their chances of promotion.

Zaha has enjoyed a rapid rise to prominence, having progressed through Palace’s youth ranks to make his debut against Cardiff in March 2010. He was named the Football League Young Player of the Year for his performances last season and he has been earning rave reviews this term too.

Arsenal considered making a bid, especially while Theo Walcott’s future at the club seemed uncertain, but the latter is close to agreeing a new deal to stay at Emirates Stadium.

Manager Arsene Wenger is also believed to have some reservations over Zaha’s ability to track back and help out the defence.

That has not put off Sir Alex Ferguson as he sees him as a young talent he can mould into the perfect long-term replacement for Nani, who is set to leave Old Trafford this summer.