Andriy Shevchenko will only return to AC Milan if Chelsea agree to loan the Ukraine striker free of charge, according to the player's agent.
Shevchenko has struggled to make an impact for the Blues since his £30million transfer to Stamford Bridge from the Rossoneri in May 2006.
Yet despite having been a big hit in Serie A, Shevchenko's agent Fabio Parisi does not expect Milan to part with any money for the forward.
He said: '(AC Milan vice-president Adriano) Galliani has always been very clear when stating that the deal can only be done if Chelsea allow Milan to have the player as a free loan.
'If Chelsea owner Roman Abramovich will give his okay then I think the deal could be done.'
Milan are looking to reinforce their attacking line this summer and would welcome the 31-year-old back with open arms, although their main target remains Barcelona's Ronaldinho.