The Corriere dello Sport claims Milan will target Everton and Belgium striker Romelu Lukaku after the Chinese takeover.
President Silvio Berlusconi has been in negotiations with a Chinese conglomerate to sell 70-80 per cent of the club and an announcement is expected around July 7.
The Rossoneri have already made one buy this summer, bringing in Gianluca Lapadula from Pescara.
However, the Corriere dello Sport claims the potential new owners were unhappy at the decision, feeling he wasn’t enough of a star name.
They have €100m ready to pour into the transfer kitty when the takeover is complete and one of their first targets could well be Everton hitman Lukaku.
He is valued at over €50m and that could rise depending on his performances for Belgium at Euro 2016.
Lukaku has also been linked with Juventus as a replacement for Alvaro Morata, but they seem more interested in Alexis Sanchez of Arsenal or Michy Batshuayi of Olympique Marseille.