Clarets secure Taylor deal
The fee will be set by a transfer tribunal after discussions failed to reach an agreement.
The Whites are due compensation as Taylor is under the age of 24, and are hopeful of getting more than £5m, although the Clarets hope it will be less.
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Hide AdWest Bromwich Albion were also hoping to signing the 23-year-old, but pulled out after also failing to agree a fee with Leeds.
Taylor was a Clarets target last summer, having finished as Leeds’ player-of-the-year, and the player submitted a transfer request before the start of last season, although then-owner Massimo Cellino made his intentions clear that he would not sell.
Taylor refused to play in United’s final game of the campaign at Wigan, but was offered a new two-year deal at Leeds, which gave them the right to compensation.
He is expected at the Barnfield Training Centre for the return to pre-season on Wednesday, and will compete with Stephen Ward for the left back slot.