Paqueta is expected to move to Milan for an initial €35m fee.
"It's not a done deal with Milan yet and we prefer to talk only when things are done and dusted," Flamengo director Noval told Tuttomercatoweb.
“We are talking. Negotiations are on-going, but as far as we are concerned, they are not closed yet.
“I do think it can be finalised in two weeks, though. It should be a couple of weeks, yes."