Milan feel that the addition of two world-class players will make the team competitive in Europe again and their targets include Ganso, Jeremy Menez and Gareth Bale.
Earlier this month, Milan patron Silvio Berlusconi said that if his team were to win the Scudetto for the first time since 2004 this season then he would buy two champions.
Milan boss Massimiliano Allegri is said to be dreaming about Tottenham wing-back Gareth Bale, who was named PFA Player of the Year on Sunday evening.
However, it seems unlikely that Milan will be able to lure the Wales international away from White Hart Lane this summer.
La Gazzetta dello Sport understands Milan are monitoring Jeremy Menez's situation at Roma very closely with a view to bid.
The France international is unhappy with a lack of playing time in the capital and told L'Equipe last month that he is considering his future.
It's also no secret that Milan have a strong interest in signing Paulo Henrique Ganso from Santos.
The Brazil international can play either as a trequartista or as a central midfielder, and Allegri is thought to like his flexibility.
Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's tipster competition - £11,000 to be won monthly!