Inter Milan have also been linked with returning for Lukaku.
New AC Milan investment could reportedly fund a move for Chelsea striker Lukaku.
The Belgium international has struggled since returning to Chelsea for a second spell in the summer.
The former Serie A striker has netted five goals in Premier League this season. He has no goals this year in the league and Champions League.
Burdened with a £97.5m transfer fee, the 28-year-old has managed just five Premier League goals this season and no goals in the league or Champions League in this calendar year.
According to Goal, Milan are showing interest in the Belgium international given his success with rivals Inter Milan prior to last summer’s switch. This mainly comes down to the large fee required and Lukaku’s £325,000-a-week wages.
The report adds that any new owners of Chelsea could be prepared to cut their losses and offload Lukaku in a cheaper deal.
Meanwhile, Milan’s owners Elliot Management are in takeover talks with Bahrain-based investment manager Investcorp.
Lukaku’s former club Inter Milan have also been linked with returning for the man who led them to the 2020/21 Serie A title.
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