The Serbia international only has one year left on his deal with the Serie A club, which is why he is available at such a knockdown price.
Milenkovic is thought to be keen on a move to West Ham, despite interest earlier this summer from Juventus and Tottenham.
Moyes will then focus on landing a new striker, says The Sun.
Moyes is also trying to persuade West Brom to loan Brazilian attacker Matheus Pereira before a permanent transfer.
Need a VPN? Or seeking to switch? Then support Tribal Football by clicking here to sign up with our official partners NordVPN. Not only will you receive the best VPN experience, but also great discounts by signing up via Tribal Football. Thanks for your support!