Milan vice-president Adriano Galliani revealed last week that Adebayor was his club's sole transfer target this summer.
It now appears that the Rossoneri are close to securing their man, with Arsenal reportedly already searching for his replacement.
"Milan have already stated their position, while Arsenal have started moving in the market in the hunt for an attacker to replace Adebayor," Morabito told Italian television channel Mediaset.
"I'd say there's a 70 to 80% chance Adebayor will go to Milan."
Reports in Spain suggested that Barcelona had reached a deal to sign Adebayor, but Morabito confirmed the 24-year-old Togo international favours a move to the San Siro.
"With all respect to Arsenal, (Adebayor) would be very happy to play for the Rossoneri. Therefore, if the two clubs reach an agreement, the deal will be finalised."