Hojlund, 22, finds himself in a precarious position at Man United this summer following the £74 million signing of Benjamin Sesko.
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The Denmark international was one of several misfiring forward players for Ruben Amorim’s side last season, scoring just ten goals and providing two assists in his 52 games.
According to Gazzetta dello Sport, AC Milan are looking like the most likely destination for Hojlund should he leave United.
It’s understood the Italian giants would like to pay €3-4 million for an initial loan with an option to buy for around €30-32m.
United are asking for more, however, around €7-8m for the loan for a total deal of between €40m and €45m with Hojlund increasingly open to the move.