The World Cup winner is out of contract at the end of June and he would have had to take a pay cut to remain at the club, having suffered an injury-hit three years.
Varane has been sidelined with an injury since April 4 but is working to be fit before the end of the season and could yet feature in the FA Cup final at Wembley on Saturday, May 25.
He has confirmed he will be at Old Trafford tonight to say farewell at the club's final home game of the season against Newcastle.
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