Former Chelsea manager Antonio Conte will reportedly be announced as the successor to AC Milan boss Gennaro Gattuso, who is set to be sacked.
Conte left Chelsea earlier this month after two seasons at the club, despite winning the Premier League title and the FA Cup during his time in England.
Former Napoli boss Maurizio Sarri has been named as the new Blues head coach, after leaving the Serie A club four points off a first Scudetto in 28 years last season.
Meanwhile, Gattuso led Milan to a solid 6th-placed finish alongside European football last campaign, but Radio Kiss Kiss reports that the availability of Conte has tempted the club to part ways with their current coach.
Conte already has managerial experience in Italy, having won three Scudettos and two Supercoppa Italianas in a three year stint with Juventus.
Meanwhile Alisher Usmanov is on the verge of selling his 30% stake in Arsenal after giving up hope of taking majority control of the club.
The Uzbekistan-born billionaire has made a number of attempts to buy out majority shareholder Stan Kroenke in the past, but the American turned down a $1.3bn (£991m) offer for his 67% stake in the club.
Kroenke has insisted that his shares in the Premier League outfit are not for sale, and the Financial Times reports that Usmanov has now given up hope of changing his mind.
The metalworks magnate is reportedly actively looking for buyers, but will refuse to sell his stake to Kroenke, who made a £525m offer for his 30% last summer.
Usmanov and Kroenke are understood to have disagreed over the direction of the club in recent years, with Usmanov claiming last summer that his presence was required to “protect the best interest of the fans in the club”