QPR have signed England international goalkeeper Robert Green, the club has confirmed.
He will now cross the city to west end rivals QPR, who have agreed a two-year deal with the player.
The Italian midfielder played on loan at Milan last season, where he scored one goal in 23 league appearances for the Rossoneri.
Milan are looking to reinforce their midfield line with Clarence Seedorf, Gennaro Gattuso and Mathieu Flamini all out of contract this summer.
"Before August 31, another midfielder will arrive, it could be Aquilani or somebody else," Milan vice-president Adriano Galliani told Gazzetta dello Sport.
"We haven't spoken yet to Aquilani. He is a Liverpool player."
Aquilani's agent Franco Zavaglia revealed yesterday he had not received any offers for his client and that the 27-year-old midfielder was set to return to Liverpool.
Aquilani is under contract with the Premier League side until June 2014 but is considered the ideal replacement for Flamini, who will not be offered a new deal at Milan.
"The time has expired for Flamini and we have already told his lawyer that we will not wait any longer," Galliani said.
Meanwhile Milan have agreed deals to sign Chievo defender Francesco Acerbi and Genoa's Guinea midfielder Kevin Constant.
Italy midfielder Daniele De Rossi admits he is keen to move to the English Premier League as he prepares for nation's European Championship clash with England.
De Rossi, who signed a new five-year contract with Roma in February, reignited speculation over his Serie A future yesterday when he claimed English football was "more interesting" than its Italian counterpart.
He said: "I have received many offers from English football. And I must say that I feel attraction for it.
"I like English football very much. I think now it's probably more interesting than Italian football.
"There are lots of outstanding and talented players, as is the case for Spain as well."
De Rossi's versatility makes him particularly attractive for potential suitors, with the 28-year-old having played both in defence and midfield for club and country this season.
Austria defender Emanuel Pogatetz has joined Wolfsburg from Bundesliga rivals Hannover 96.
The former Middlesbrough stopper, who joined Hannover in June 2010, has signed a three-year contract with the Volkswagen-backed club.
"Emanuel Pogatetz is an experienced player who can organise the defence," Wolfsburg coach Felix Magath said, welcoming the new signing.
"He always shows full commitment, doesn't slack off and always puts himself completely at the team's service."