I'm a Feyenoord fan, have watched him play weekly for the last 4.5 years. First of all, despite this being originally reported by the Sunday Mirror, it seems to be legit. There's this Feyenoord clubwatcher who doesn't work for any media but is part of the fanbase. He has all the scoops. He confirms that this is correct. It is also unsurprising, given that Erik ten Hag has previously in press conferences confirmed that he's a big fan of Malacia. Together with Wijndal, he was on Ajax's list for a new leftback.
Club Brugge went in for him with a bid of around 8 million pounds last year, which Feyenoord rejected. Club Brugge is no longer interested, but Lyon, Bournemouth and West Ham are currently interested. He is 100% on the move this summer, as he has admitted that Feyenoord hasn't invited for the photoshoot with next seasons jersey. Among supporters, the expectation is that we would sell him for about 12 million pounds, but this may increase with the surging interest. He'll definitely be available for 20 million pounds or less.
Now as to his quality. He came through Feyenoord youth's rank and played for national youth teams. He wasn't considered one of the best talents in the academy, but he got his chance when the first team had several injuries. He made his debut in a Champions League game against Napoli at the age of 18. He played amazingly and Feyenoord won. Since, he has managed to become an important player and obtain a place in the starting eleven. He also has three caps for the Netherlands now, including a start against Germany. He is definitely a Premier League level leftback, although Manchester United may be a bit high. I think a club like Leicester or West Ham would make most sense, I reckon he would be a starter for them (or a back up at United).
He's a very fast and, although short, also a strong player. He is defensively very good, which is the reason why he always plays well in big games where you're put on the back foot for certain phases of the game. He has a brilliant sliding tackle. I think that he carries a resemblance to N'Golo Kanté, despite playing a different position. The only downside of his defensive capabilities is that sometimes he can sometimes be a bit wild. He sometimes picks up cards or may concede a penalty because of a rough challenge, although that's gotten better this year.
His pace also helps him offensively. He gets forward whenever he can and is quite good in his short passing and dribbling. Feyenoord's head coach has said that sometimes he should not dwell on the ball as much as he's inviting challenges, but generally he's good on the ball. His crosses are however not good, don't expect him to feed balls to the strikers. His long shots are also often off target, but he does have an incredibly hard shot. If they're on target, they're goals.
All in all, a physically really strong player with a strong tackle and decent dribbling. He's not better than Shaw but he's definitely a Premier League level leftback