Spanish sources claim that Milan have struck a deal with Atletico Madrid for highly-rated Colombian Luis Amaranto Perea.
The 26-year-old has been linked Manchester United, Valencia and Internazionale in recent months - but Milan look to have won the race for his signature.
Caden Ser Radio has announced that a é¼7 million deal has been agreed between the two clubs.
Atletico are yet to confirm the deal, but it is also being suggested that Perea has also shaken hands on a four-year contract at The Giuseppe Meazza.
Atletico are already planning for the new season with Portuguese youngster Ze Castro on his way from Belenenses.