The 23-year-old’s tenure at Liverpool has been largely underwhelming, with the player often struggling to justify the 35 million pound ($54.7 million) fee the Anfield side paid for the striker in 2011to make him the most expensive English player ever.
The former Newcastle forward enjoyed an excellent run of form toward the end of last season and was included in Roy Hodgson’s squad for the European Championships.
Carroll returned from Euro 2012  after England were dumped out of the tournament by Italy in a penalty shootout yet managed to justify his inclusion in the team.
The player performed impressively in the group stages of the competition, scoring a magnificent header against Sweden to give his side the lead.
Pier Silvio Berlusconi, son of Milan owner Silvio and president of the company which owns the Rossoniri, has revealed he is a huge fan of Carroll and expressed a desire for the forward to one day join the San Siro side.
“As a future target I’d like Andy Carroll,” he was quoted by The Sun newspaper as saying.
“I must admit that for his body build, and after seeing his header in the Euros, I would like to have Carroll at Milan.”
After missing out on the Serie A title to Juventus last season Milan have elected to replace their aging squad with seasoned veterans Gennaro Gattuso, Mark van Bommel and Clarence Seedorf having left the club this summer.
The club is expected to invest heavily in youth, and at just 23-years of age Carroll would fit that remit.
“This is a new era for Milan,” Berlusconi added.
“We will continue to get younger while maintaining the culture. Milan still has its superstars.”
Tottenham have completed the signing of Icelandic midfielder Gylfi Sigurdsson from Hoffenheim, with the player becoming Andre Villas-Boas’s first signing since taking over at White Hart Lane.
The Portuguese manager was only appointed Tuesday and Spurs have moved quickly to secure the services of the midfielder who impressed while on loan at Swansea last season.
The 22-year-old had been expected to follow Swansea boss Brendan Rodgers to Liverpool, yet the player has decided to join Tottenham in a deal worth up to 8 million pounds ($12.5 million).
The Daily Mail newspaper reports that Sigurdsson is just the first of a number of transfers Villas-Boas is hoping to complete, with the Portuguese believed to have a 50 million pound ($78.2 million) transfer kitty at his disposal.
Club chairman Daniel Levy is said to be close to securing a 20 million pound ($31.3 million) deal for Marseilles striker Loic Remy, who has long been linked with a move to Spurs.
Remy scored 14 goals last season for the French club and is capable of playing on the right of a forward line in addition to being a lone-striker.
Tottenham are also being linked with a move for CSKA Moscow’s Russian midfielder Alan Dzagoev after the player’s father revealed Spurs’ interest in the 22-year-old.
“I don't know if he will stay at CSKA,” Tariel Dzagoev said of his son who finished the Euro 2012 as joint top-scorer.
”There are offers – from Spurs and other foreign clubs.
“I tell him not to hurry – Yury Zhirkov ran off to Chelsea and sat on the bench.”
Tottenham’s north London rivals Arsenal are also believed to be keen on the player who is reported as having just six months remaining on his contract.
Chelsea are closing in on a deal for Inter Milan defender Maicon, with the Brazilian defender expected to seal a switch that will see him leave Italy for 6 million pounds ($9.4 million).
The Blues are known to be in the market for a new full-back after the release of Jose Bosingwa.
Manager Roberto Di Matteo had drawn up a shortlist of recruits, including Dortmund star Lukasz Piszczek and Ajax's Gregory van der Wiel, but has now moved for the 30-year-old after the player became available for a knockdown price.
Maiconhas long been regarded as one of the best right-backs in the world and the Brazilian’s agent is expected in London for talks later this week.
Barcelona are keen on signing Arsenal defender Thomas Vermaelen, with the Catalan club identifying the Belgian as a potential long-term replacement for club captain Carlos Puyol.
The club recently missed out on Thiago Silva after the Brazilian decided to sign a new contract with AC Milan and have now decided to explore different options.
New Barca boss Tito Vilanova has sanctioned the club’s move for the player who joined the Gunners for 10 million pounds ($15.6 million) in 2009.
Catalan paper Sport revealed that Barcelona’s No. 1 target remains Javi Martinez of Athletic Bilbao, but the 32 million pound ($49.9 million) release clause could lead the club to purse cheaper alternatives.