The Serie A giants remain keen on luring the playmaker to San Siro once again, while they have not given up hope of signing Mapou Yanga-Mbiwa from French champions Montpellier
The Rossoneri are desperate to lure the Brazil international back to Serie A ahead of the 2012-13 campaign, but their dire financial situation has complicated matters.
"The Kaka situation is on stand-by. We're waiting to see how the problem with his salary will be resolved," Braida stated to Gazzetta dello Sport.
"We would be really happy if Kaka came back, because he's a guy who everyone likes. Kaka made a part of Milan's history, and obviously we would be happy to have him with us again."
The official then went on to discuss the possible arrival of Mapou Yanga-Mbiwa, and stressed that the San Siro side have not given up hope of signing the Montpellier defender just yet, despite an impasse over the player's valuation.
Paillade owner Louis Nicollin had earlier stated that that the Rossoneri must hand over the whole €42 million sum they received from Paris Saint-Germain for Thiago Silva if they want to sign the 23-year-old Frenchman, and also called Milan CEO Adriano Galliani 'Kojak'.
"At the moment, the negotiations for Yanga-Mbiwa have slowed down, but we're still interested in the player," Braida admitted.
"The declarations from president Nicollin? We were not upset about it. It's a part of the game."
Yanga-Mbiwa has a contract with the Ligue 1 champions until June 2013, but Milan are hopeful that an offer in the region of €7m will be enough to lure him away from his current club.