"We have reached a deal with Monaco," Milan Vice-President Adriano Galliani was quoted as saying by Sports magazine Football Italia.

"Now it is just up to the player to agree personal terms with the Monegasques."

The 32-year-old international prefers to move out of Milan in search for regular first-team action ahead of the World Cup next June.

Vieri has joined Milan in the close season from city rivals Inter but failed to secure a starting spot with Ukrainian star Andriy Shevchenko and Italy striker Alberto Gilardino dominating the scene.

If the deal is sealed, Vieri will play alongside compatriot Marco Di Viao who joined Monaco earlier in January from Spanish club Valencia.