According to transfer journalist Pete O'Rourke, talks between Manchester United and Cologne are underway, though how advanced the negotiations are remains unclear.
Obi joined United's academy in 2024 after coming through the youth ranks at Arsenal. He made seven Premier League appearances in the 2024/25 season before the club decided he needed more development time, keeping him in youth football last campaign rather than exposing him further at senior level.
Köln, who finished 14th in the Bundesliga last season, are looking to add firepower and have identified Obi as a potential option on a temporary basis.
A loan would give Obi the consistent senior minutes United believe he needs at this stage of his career, with the club managing his progression carefully rather than fast-tracking him into a first-team role he is not yet considered ready for.
The move would represent a significant step for a player whose development pathway at Old Trafford has been deliberately managed. United's decision to hold Obi back from the first team last season was driven by a belief that he needed more structured development rather than sporadic appearances, and a full campaign of regular Bundesliga football would address that directly.
At 18, Obi is still at an early stage of a career that has already attracted significant attention. Whether Köln and United can agree the terms of a loan deal in the coming weeks will determine whether he heads to Germany or remains in England for another year of development.