Rangnick will then take on an advisory position, and following United's 4-0 loss to Liverpool this week, he has admitted the squad needs a major revamp.
Rangnick's judgment may be correct, according to the Mirror, since Ten Hag will reportedly be given a £200 million transfer war fund to rebuild the squad.
With Paul Pogba, Nemanja Matic, Jesse Lingard, Edinson Cavani, Juan Mata, and Lee Grant all going for free when their contracts expire, a big number of players will have to be brought in.
However, another SIX players may be sold this summer.
Aaron Wan-Bissaka, Eric Bailly, Phil Jones, Alex Telles, Anthony Martial, and Marcus Rashford are just a few of the players that could be on their way out.
Because he has already worked with Ten Hag, Donny van de Beek may be spared.
Ten Hag knows how to bring out the most in his old Ajax teammate, who could be given a real chance to succeed.
United are interested in signing England internationals Harry Kane and Declan Rice.
However, excluding player sales, signing both would almost completely deplete the transfer budget.
After a fantastic season, RB Leipzig's Christopher Nkunku is also a target.
This season, the France international has scored 30 goals and provided 19 assists while predominantly playing as an attacking midfielder.
Darwin Nunes of Benfica and Ruben Neves of Wolves are among the players being considered.
Gary Neville, a United icon, has confessed that the team is "finished and shattered" this season.
A summer renovation might provide United with the necessary boost to get back on track.
"I don't know how it's gone from being slightly promising, coming second last season, to an all-time low in my 42 years of watching United," Neville remarked.
"I've never seen anything like it. In my 40 years of watching United, I've never seen them wilt in a football game.
"The players are messed up." There are a few decent players out there; they have potential and have played at a high level in the past, but this season they are done and broken. It's a shambles."