The transfer has been in the offing for some time but has stalled over the transfer fee.
Reports in Brazil are suggesting that Milan are happy to accept a payment in installments to allow Santos to complete the deal.
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.