Milan has confirmed the signing of the highly-touted defender on a five-year contract via a statement from their website.
As the deal will run until the summer of 2028, Sky Sport Italia reported that the Rossoneri paid an initial fee of €3.5m to bring the 21-year-old to San Siro. They have also agreed to pay up to €2m in bonuses plus 10% of any future sell-on.
Pellegrino, who will wear the number 31 for the Milan club, have only played for Platense thus far in his career.
He graduated from the club’s academy and made his first team debut in March of this year, going on to make 17 appearances for the senior side, scoring one goal in the process.
Milan signed Marco Sportiello, Luca Romero, Ruben Loftus-Cheek, Christian Pulisic, Tijjani Reijnders, Noah Okafor, Samuel Chukwueze, and Yunus Musah this summer.
Meanwhile, wide-man Alexis Saelemaeker could depart from the club as reports from France suggest that Ligue 1 side Olympique Marseille are interested in signing him.
Reports say the French giant wants to sign Saelemakers on loan with an option to buy later.
It was gathered that the 24-year-old current Milan players are not in Stefano Pioli’s plans for the upcoming season.
Saelemaekers was not among the squad for the Rossoneri’s first game of the 2023-24 Serie A season against Bologna.
Other players on the brink of exit from the club include Mattia Caldara, Fode Ballo-Toure, and Divock Origi.
The Belgian also played three games as a substitute during three of Milan’s pre-season friendlies this summer.
The winger, who has 11 caps for his country, moved to San Siro on loan with an option to buy in January 2020 before making 111 Serie A appearances, contributing six goals in the league. His contract will expire in the summer of 2026.