The Dutchman is believed to be sitting in pole position to succeed Massimiliano Allegri as the new man in charge of the San Siro side.
The San Siro side is in the market for a new coach after giving Massimiliano Allegri the sack on Monday morning following disappointing performances in 2013-14.
The club has appointed Mauro Tassotti as caretaker boss ahead of Wednesday's Coppa Italia match against Spezia, but Seedorf is believed to be sitting in pole position to get the role on a permanent basis.
"There is not much to say about everything that has been written about Seedorf, but a number of things that have been reported are incorrect," the Dutchman's agent told La Gazzetta dello Sport. "I negotiated the contract of Clarence with Botafogo and he has a clause in his contract that allows him to leave the club without compensation on certain occasions, as long as he doesn't play for another team.
"I would also like to point out that Clarence now has all the necessary papers to coach and has taken all the steps needed in Netherlands and Brazil."
Seedorf, 37, left Milan for Botafogo in the summer of 2012 after a 10-year spell with the Rossoneri.