The 27-year-old Brazilian has emerged as a target for Manchester United as they look to bring in a new left-back for Ole Gunnar Solskjaer’s squad.
Real Madrid’s insistence on including a buy-back clause meant Manchester United decided against signing Tottenham Hotspur-bound Sergio Reguilon.
But it seems the Premier League giants are now prepared to work out a deal sign Telles and are pushing forward with their attempt to sign him.
According to French radio station RMC, the Red Devils have worked out an agreement over a contract with the representatives of the 27-year-old defender.
Telles will sign a five-year contract with Manchester United if he moves to Old Trafford in the ongoing transfer window.
Manchester United will now turn their attention towards agreeing on a deal with Porto and will start talks over a fee.
Porto want €20m for the left-back but there are suggestions Manchester United do not want to pay that figure.
Paris Saint-Germain also have their eyes on Telles but they are still to make a concrete move for him.