The 29-year-old, on-loan striker has told his agents to negotiate with Chelsea in an attempt to facilitate a permanent move to AC Milan, most likey in January.
Milan officials have said they are talking to Chelsea about ending Crespo's tenure in England.
Milan vice-president Adriano Galliani said: "We are negotiating already with the English executives."
Galliani said: "We want Hernan Crespo to remain with us but we will have to reach an agreement."
Crespo, for his part, has stated that he is keen to stay at Milan, saying recently: "I want to remain here at Milan.
"I was not happy at Chelsea on a personal level. I just couldn't adapt to the English lifestyle.
"I have been able to recover from injury thanks to the fantastic technical team and I have returned to have a good life.
"I just need Milan now to give me a nice present."
Well you won't be missed my friend.
Note to Peter Kenyon - "get as much money as possible Peter!"