England global Kyle Walker signed for Manchester City from Tottenham Hotspur on Friday in a deal that could see him become the world's most expensive defender.
It is being reported that he will undergo his medicals later in the day before signing a five-year deal with a salary of eight million euros ($9.16 million) per season at the club that now boasts a project to take it back to its glory days.
Prior to Bonucci's potential arrival, Milan had already spent over €100m on players in the transfer window, including Andre Silva, Ricardo Rodriguez and Franck Kessie.
The new Milan manager has Bonucci as his next target, but Goal understands that Juventus are holding out for more than the €30m being offered.More news: 'Your mediation not required on Kashmir': India makes it clear to China
The 23-year-old has been linked with a possible €22m move to Tottenham, despite having insisted this month that he had no plans to leave.
Seven-time European champions Milan are looking to rebuild their squad after finishing sixth last season, their highest position since the 2012-13 campaign.
Bonucci, who started his career at Milan's city rivals Internazionale joined Juventus in 2010 and has won six Serie A titles with Juventus in the past six seasons.
Buffon, 39, is poised to retire after the 2018 World Cup, but Bonucci's shock sale hastens the break-up of Juventus' famed defensive unit.
This is where the off-pitch considerations come into play, including the health of his son, an issue that had Bonucci considering retirement last summer.