Ronaldinho and Milan Vice-President Adriano Galliani will reveal his next club in a Press conference on Thursday evening.
There is a great deal of confusion surrounding the superstar and his future, but both the player and Galliani are in Brazil.
A Press conference has reportedly been set for 17.00 UK time on Thursday in which Galliani and Ronaldinho's agent, brother Roberto de Assis, will reveal the end of the negotiation process in Rio de Janeiro.
Dinho declared he only wanted to join Gremio, the side where he started his career, but they are unable to pay the €8m requested by the Rossoneri.
Flamengo can provide the transfer fee and are in the running, but it looks as if Milan have reached a compromise.
“We hope to announce Ronaldinho is our player on Thursday,” said Gremio Vice-President Antonio Vicente Martins.
“There is always the risk when other clubs are interested, but we are in agreement on everything. Ronaldinho will not go to Flamengo and we have no doubts over the negotiations.”
Either Gremio are set to bring in extra money from sponsors to complete the transfer, or Milan will agree to terminate Ronaldinho's contract six months early.