Crespo could be joining either of the Milan sides, AC Milan or Inter.
Crespo said: “I don’t care which one I join. I left good memories with both.
“Everyone knows I want to return to Italy – including Chelsea. They won’t stand in my way, even if (Roman) Abramovich recently asked me to renew my contract.”
Crespo joined Chelsea for £16.8M in August 2003, from Inter Milan. In the 2004-05 season he was loaned out to AC Milan.