AC Milan will sign Zlatan Ibrahimovic on a free transfer after the former Sweden international left LA Galaxy earlier this year, according to Sky Sport Italia.

The publication reports that the deal will be announced formally Thursday night or Friday morning. The deal can be renewed if certain conditions are met.

Ibrahimovic spent two seasons with Milan from 2010 to 2012, winning a Serie A title, and had long been linked with a return to the club -- however, sources told ESPN the 38-year-old was told to lower his wage demands in order to facilitate the move.

Milan director Zvonimir Boban initially cast doubt on the move due to concerns over the forward's age.

Ibrahimovic earned $7.2 million this past season, according to the MLS players salary database.

The Swedish star has 535 career goals across all levels of competition.

Ibrahimovic was a two-time MLS Best XI selection while helping raise the league's status.

He had 30 goals and seven assists in 29 matches this past season to finish second in MVP voting behind LAFC's Carlos Vela.

Last season, he had 22 goals and 10 assists in 27 matches (24 starts) while finishing third in MVP balloting behind winner Josef Martinez and Martinez's Atlanta United teammate, Miguel Almiron.

Among Ibrahimovic's other achievements include scoring 62 goals in 114 appearances for the Swedish ntional team, and 421 more in club play.

He has been part of winning 11 league titles in four different countries.

Information from Reuters was used in this report.