The Brazil international was thought to be close to clinching a move back to his native country, but Corinthians have denied stories that claimed they had clinched a deal to sign the 23-year-old.
And now talkSPORT reports that Chelsea and Liverpool remain in the hunt to bring the highly-rated young forward to the Premier League.
The report says Pato was interested in a move to England during the summer, but eventually opted to stay with Milan. But the Brazil striker has found first-team opportunities difficult to come by, with Milan’s hottest young forward Stephan El Shaarawy currently leading the Serie ‘A’ scoring chart.
And talkSPORT now claim Pato’s move to Brazil is yet to be finalised, leaving the door open for Reds boss Brendan Rodgers or Chelsea interim manager Rafa Benitez in January.
Corinthians remain favourites to snare the young forward, who has struggled with injuries in the past, but the report claims Liverpool and Chelsea are waiting in the wings, ready to move if the deal falls through.
TalkSPORT quote the Corinthians director Duilio Monteiro Alves as saying: “I had a meeting with the CEO of Milan [Adriano Galliani].
“It was only an initial talk – the negotiation is complicated. The figure is high and the player is young. Galliani and I will meet next week and we will talk more.”