The 31-year-old player joined the Iranian team in August 2019 on a two-year contract from Seri B team Crotone.
The reports suggest that the negotiations are not going well but the club has announced that it has reached with Milic to sign a new deal.
Milic’s current deal expires at the end of current season but Esteghlal wants to keep the iconic winger for the upcoming seasons.
Esteghlal is a favorite to win the Iran Professional League (IPL) title after eight years.