Leonardo Bonucci
Bonucci has completed a transfer to AC Milan Marco Luzzani/Getty Images

AC Milan have agreed on a deal with Juventus for the transfer of Leonardo Bonnuci subject to a medical and corresponding paperwork. He will sign a five-year contract at Milan, ending an illustrious relationship with the Italian Champions.

"A'C Milan have reached an agreement with Juventus FC for the permanent transfer of Leonardo Bonucci, subject to medical completion. Should the player pass the medical examination in the next few days, he will join the Club penning a five-year contract," Milan said in an official statement on their club website.

Juventus also iterated their version of the transfer, stating that the defender will join Milan for a fee in the range of €42m (£37m, $46m), payable over three years.

"Juventus Football Club announces that it has reached an agreement with AC Milan for the definitive disposal of the registration rights of the player Leonardo Bonucci for a consideration of € 42 million payable in three years. This operation generates a positive economic effect of about € 39.5 million," claimed Juventus' official website.

Bonucci has been a loyal servant to the club and was also wanted by Chelsea manager Antonio Conte at Stamford Bridge. However, the Italian decided to stay in his home country and will now try to replicate his resounding success with the Turin based club in Milan.

At Juve, he has managed to win six league titles, three Italian Cups and Super Cups, in the seven years he has been there after joining in 2010. He has also made 319 appearances for the club, scoring 19 goals in the process, the same as his shirt number.

Bonucci, 30, is set to be the ninth summer arrival at San Siro, with Milan's Chinese owners financing a major spending spree to restore the Serie A giants to their former glory.

The Rossoneri have signed the likes of Andre Silva, Andrea Conti, Hakan Calhanoglu, Mateo Musacchio and Ricardo Rodriguez, while Franck Kessie and Fabio Borini have been brought in on loan.