Milan President Silvio Berlusconi is set to open his wallet this summer after what looks likely to be a season of disappointment at San Siro.
The Rossoneri went out of Europe's premier club competition last night following a 2-0 aggregate defeat to Arsenal in the second round.
The Champions League and Club World Cup holders have also disappointed domestically - the Diavoli are currently fifth - and need fresh investment if they are to challenge for honours next term.
To stop the decline, Milan's director general Ariedo Braida is targeting three players, most notably Chelsea striker Didier Drogba.
The Ivorian has interested the Via Turati club for some time and, according to La Gazzetta dello Sport, a bid is being prepared to entice the unsettled hitman away from Stamford Bridge.
Earlier this season DD revealed the Rossoneri had made an offer for him in the past. Milan came in for me last summer and it was very tempting, remarked the 29-year-old.
The Diavoli have struggled for goals this season - Ricky Kaka is the club's top scorer with eight in Serie A - and need a prolific target man. Drogba has netted 14 times so far in 2007-08.
Another contender to partner Alexandre Pato is Lyon sensation Karim Benzema, but he has seemingly ruled out a move to San Siro.
I want to stay at Lyon next year - there are still many things I want to do there, the French forward insisted.
Azzurri star Gianluca Zambrotta has also been linked with a switch to the club, as Milan are looking to sturdy their defence in view of Paolo Maldini's retirement in May.
The Rossoneri have also highlighted Fiorentina goalkeeper Sebastian Frey as a replacement for the out-of-favour Nelson Dida.