The 25-year-old is expected to leave the Premier League champions this summer after failing to establish himself under Arne Slot.
Napoli are one of several clubs understood to be interested in Nunez as they seek to build up their Serie A winning season.
Now, according to Gazzetto Dello Sport, AC Milan have entered the race as they look for a "no.9 capable of guaranteeing goals".
Nunez struggled in front of goal last season, scoring just seven goals and providing five assists in his 47 games across all competitions.