Pepe Reina will terminate his contract by mutual consent with Milan before signing a two-year deal with Lazio.
The goalkeeper just returned from a loan spell with Aston Villa.
According to Sky Sport Italia, Tuttomercatoweb and others, Reina is going to join Lazio as a free agent, after becoming frustrated with the delays in negotiating a deal with Valencia.
The contract is believed to be worth €1.6m for the first year, with option to extend for a second at €2m.
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