Milan are currently in turmoil and US-based hedge fund Elliott Management have been forced to seize control of the club after former owner Li Yonghong missed the deadline to pay back part of a £265million loan.
The Italian giants have already been banned from taking part in the Europa League for breaching Financial Fair Play rules and are now looking to balance the books, with a number of last summer’s high profile arrivals available for transfer.
Corriere dello Sport report that Milan would consider selling Bonucci this summer to get his £100,000-a-week contract off the books.
The Italian outlet report that Chelsea see Bonucci as an ideal fit under incoming manager Maurizio Sarri but the Blues face competition from Paris Saint-Germain.
Bonucci headlined Milan’s £160m spending spree last summer when he made a shock £35million move from champions Juventus but has struggled for form since joining the Rossoneri.
Milan finished sixth in Serie A last campaign under Gennaro Gattuso but were banned from taking part in the 2018-19 Europa League for falling foul of FFP.
Chelsea finally reached an agreement to sack Antonio Conte on Thursday as they were forced to pay him a £9m severance package following a lengthy stand-off.
The Blues now look set to announce the £50m signing of Jorginho from Sarri’s former club Napoli as they usher in a new era under the Italian manager.