Milan leading Cannavaro chase
Parma are keen to cash in on the 26-year-old, however the Guiseppe Meazza side will have to fend off strong interest from Juventus, Roma, together with Spanish giants Barcelona and Real Madrid for the world-class stopper.
Despite a transfer fee close to being agreed one major stumbling bock behind the deal could be the players blockbuster wages.
Cannavaro currently earns around £2.8 a season with Parma, a figure that Milan would need to decrease if they were to agree terms with the former Italian international.
However, the player has already revealed he will not be leaving the Stadio Ennio Tardini for pay cut, so Milan may have to rethink their transfer strategy if they want to land the star.