Zanioli is on-loan at Udinese from Galatasaray and can be signed outright for €10m.
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Tuttosport says the Zebrette are set to sign Zaniolo permanently at the end of the season. However, he may not remain in Udine.
Milan are keen, where coach Max Allegri is a big fan, having been impressed by how Zaniolo has rebuilt his career with Udinese.
It's suggested Udinese management would be prepared to sell and make a quick profit for the right price.