Milan chief Adriano Galliani is in Madrid and will meet with agent Manuel Garcia Quillon to discuss the possibility of keeping goalkeeper Diego Lopez at Milan.
Galliani will also open negotiations for Arsenal target Mario Suarez Mata.
The 28-year-old midfielder has decided to leave Atletico after coach Diego Pablo Simeone made it clear that he is not part of his plans for next season.
Napoli and Roma in Italy as well as Liverpool in the Premier League all showed interested in the midfielder during last January's transfer window.
With Mikel Arteta and Mathieu Flamini expected to leave Arsenal this summer and with Jack Wilshere recovering from injury, boss Arsene Wenger has made Suarez Mata a target for this summer.