Aquilani has been strongly linked with a move away from Anfield this summer, despite impressing in several of Liverpool's pre-season fixtures.
The creative midfielder initially spent last season on loan to Juventus but with the Bianconeri refusing to fork out the pre-arranged fee to seal a permanent deal, Aquilani returned to Liverpool at the end of last term.
Since then, various Serie A clubs have been rumoured to be interested in the Italian international, but it is Milan who look the most likely to make a concerted bid to land Aquilani.
However, the player's agent Franco Zavaglia reveals his client is still waiting for the Rossoneri to table an official offer, despite Milan president Adriano Galliani admitting they are interested in Aquilani.
"At the moment Milan haven't made a move," Zavaglia said according to Calciomercato.it.
"There have been Galliani's words, but no other signals."
Nonetheless, Zavaglia remained optimistic that a move could still be brokered before the end of the transfer window, and has not ruled out a loan deal.
"I'm not saying what type of offer my client can get from Milan, whether it is a loan deal or a permanent move.
"We will wait."
Liverpool already boasting a wealth of talent in central midfield with the likes of Steven Gerrard, Lucas Leiva, Raul Meireles, Jay Spearing, Jordan Henderson, Charlie Adam, Christian Poulsen and Jonjo Shelvey all jostling for places.
As such, it remains to be seen how big a role Aquilani will play should he stay on at Anfield for the next season.