"The whole of the Milan family, from president (Silvio Berlusconi) to the caretaker at the training ground, have given the thumbs-up to the possible arrival of Ronaldo."
Galliani confirmed that Milan had made an offer for Ronaldo, but are said to be unwilling to pay a transfer fee for a player whose contract ends in 18 months.
"It all depends on Real, he's their player," he said.
The Gazzetta dello Sport reported that Milan have offered Ronaldo, who cost Real $38.7 million when they bought him from Inter in 2002, a staggering $7.8 million dollars a season.
Ronaldo, the highest scorer in World Cup history, has rarely featured for Real under Fabio Capello.
But at a press conference on Wednesday, the Real coach showed some reluctance to let Ronaldo leave.
"He's a Real player. I see him with the Real Madrid jersey," Capello said.
The Italian club is reported to have some competiton for the striker's signature from wealthy Saudi Arabian club Al Ittihad, who have just snapped up Portuguese winger Luis Figo.