Milan and Fernando Torres are €2.5m apart from completing a transfer, according to the club’s official television channel.
The Rossoneri are on the lookout for a new striker following Mario Balotelli’s move to Liverpool on Monday.
All indications are that the Spain international is their first choice, but Milan Channel has insisted that a deal is nowhere near completion.
Reports earlier today were that the San Siro outfit and the Premier League side had agreed a one-year loan for the goalscorer.
However, with wages of €8m per season, Pippo Inzaghi’s team are hoping that the Atletico Madrid graduate will take a substantial wage cut to come to Italy.
Torres is thought to be willing to do that, but not to the extent Milan want.