Milan vice president Adriano Galliani met with Madrid president Ramon Calderon for more than three hours on Monday but could not agree on the price and the means of payment for 30-year-old Ronaldo's move, Galliani told reporters at Santiago Bernabeu stadium.
Real Madrid is asking for Ђ8 million (US$10.3 million) and AC Milan is offering Ђ7 million (US$9 million). Under FIFA's transfer rules, the deal for Ronaldo must be completed by Wednesday.
"We will meet again tomorrow to continue negotiating," Galliani said. "We have offered seven million euros and Real want eight and we haven't agreed on the payment conditions either.
"I'm expecting to be back in Milan Tuesday morning with Ronaldo, who will be at AC Milan coach Carlos Ancelotti's disposal in the afternoon."
Brazil international Ronaldo, who hasn't been picked for Madrid since a Jan. 7 defeat at Deportivo La Coruna, has said his difficulties with coach Fabio Capello have forced him to look elsewhere, reports AP.
A move to Milan would take Ronaldo back to the city where he spent five years with Inter Milan. He joined Madrid in 2002.