The pair’s respective futures at Manchester United have been up in the air for several weeks now.
Paul Pogba has continually been linked with a move away from Old Trafford, with Real Madrid repeatedly touted as the Frenchman’s next destination.
Lukaku, meanwhile, cast doubt over his own future earlier this week by admitting it’s his ‘dream’ to play in Serie A.
United boss Ole Gunnar Solskjaer is keen to retain Pogba’s services and is confident he will be at the club come the start of the 2019-20 season.
But according to the Daily Mirror, the United board are resigned to losing midfielder this summer.
Real Madrid are understood to hold an interest in signing the Frenchman and could attempt to lure him to the Spanish capital at the end of the season.
The United board are said to be hopeful of pocketing £120million for the World Cup winner, who they re-signed in summer of 2016 for £89million.
And should a sizeable bid come in for Lukaku, the club are willing to let the Belgium international leave the Theatre of Dreams.
Italian giants Juventus are reportedly interested in signing the former Everton and Chelsea man, as well as their league rivals Inter Milan.
United will be hoping to receive around £80million for the 25-year-old, who they signed for £75million in July 2017.
Pogba, 25, had been United’s star performer since Jose Mourinho’s sacking last December.
And former Red Devil Dimitar Berbatov believes his old side must do everything in their power to keep the France international.
In an interview with The Sun, Berbatov said: “Why is Pogba the problem? They criticise some players more than others, which is unfair. You cannot escape criticism in one form or another — we all have phones and are on social media.
“Even if you are mentally strong the critics can get in your head. But when everyone is attacking you, we are all humans so it can affect your game.
“He’s not a robot, but if you don’t feel appreciated, what do you do? Go somewhere else.
“But leaving would be a mistake.
“I really hope Ole will tell Pogba he will build the team around him to give him the confidence to perform at his best.
“I have first-hand experience of how good Pogba can be when he trained with us a kid and he is a good boy as well.
“Pogba needs to know he has a player to cover his back, he needs to have the freedom to make decisive passes.
“It doesn’t matter if he makes mistakes as he is trying difficult passes.”