​AC Milan's vast summer spending spree has continued apace with Fiorentina's Borja Valero reportedly on the verge of becoming their latest signing.

Spanish news outlet ​Marca has claimed that the 32-year-old will complete an £8.8m switch from Florence to Milan some time on Tuesday - a transfer that would take Milan's number of new arrivals to five already since the 2016/17 campaign ended.

Valero will apparently pen a two-year contract with the sleeping Serie A giants upon completion of his move, which will allegedly go through in the coming hours.

ACF Fiorentina v Borussia Moenchengladbach - UEFA Europa League Round of 32: Second Leg

Milan boss Vincenzo Montella has already worked alongside Valero when he was in charge of Fiorentina, and the 42-year-old sees the midfielder's experience and talent as something that his senior squad at the San Siro would benefit massively from.

The pair worked together for three seasons before Montella trade I Viola for Milan in July 2015 and will be reunited when the formalities are signed off on Valero's deal.

Valero has spent the past five years with Fiorentina following a £6m transfer from Villarreal. The ex-West Bromwich Albion player has played 212 times for the Stadio Artemio Franchi-based side, and has weighed in with 17 goals and 44 assists throughout his spell with them.

Milan's fierce city rivals Inter Milan were also thought to be in the hunt to acquire Valero's services, but new I Nerazzurri boss Luciano Spalletti has been beaten in his attempts to do so as the two Milanese clubs battle it out to pick up new talent to reshape their squad following Chinese billionaire buyouts.

Milan, who are now owned by the Sino-Europe Sports Group, have already splashed out on a number of world-renowned stars as they seek to reclaim their mantle as one of Italy's most feared clubs.

Montella, who penned a new long-term deal with I Rossoneri recently, has already welcomed Wolfsburg full-back Ricardo Rodriguez, Villarreal centre-back Mateo Musacchio, Porto striking wonderkid Andre Silva and Atalanta loanee Franck Kessie to the club in the last couple of weeks, and Valero will add to that contingent when his move goes through imminently.

Read more from Tom Power by following him on Twitter!