Spanish side Sevilla were also reportedly keen on a move for the 29-year-old but they have apparently cooled their interest, leaving the way clear for Garcia to make a move.
The Argentine only moved to Milan last summer but has found himself down in the pecking order behind the likes of Ignazio Abate, Luca Antonelli, and Davide Calabria for the Rossoneri, and has yet to make a single start for the club.
Garcia is set to make a move this month and the player himself is looking for pastures new in order to get some first-team football.
Arsenal have reportedly held talks with Dennis Praet's agent and could make a £22million move for the Sampdoria midfielder this summer.
Gareth Bale could leave Real Madrid this summer despite proving to be the match-winner during Saturday's Champions League final.