The news was all but confirmed by Juventus CEO, Beppe Marotta, in a recent interview with QS Magazine (via Calciomercato).
Speaking about the 23-year-old defender, experienced executive Marotta made a short but revealing comment on the matter, saying: "If Romagnoli is sold, he will be sold to Juventus."
Romagnoli played 42 games for Milan across all competitions, scoring three goals as Gennaro Gattuso's side achieved an underwhelming sixth-place finish in Serie A - missing out on Champions League qualification by eight points.
Meanwhile, Romagnoli's potential new side won the league by four points from Napoli, and held an impressive 18-point gap from third-placed Roma.
The centre back, who has six caps for the Italian national team, has been a long-term target of Premier League giants Chelsea, but a move to London now looks unlikely due to the uncertain future of Blues manager Antonio Conte.
As a result, Juventus look to have moved into pole position and have been strongly linked with Romagnoli over recent weeks.
Marotta's comments may come as no surprise to fans of the two Italian clubs, after Juventus manager Massimiliano Allegri stirred the rumour pot in January by lavishing praise on the Italy international.
With Italy failing to qualify for the World Cup in Russia this summer, Juventus could strike a deal for Romagnoli quickly and get a key part of their business done in good time for the start of pre-season.