Sergio Conceicao's contract with AC Milan carries a break clause at the end of the season.
Milan are reeling after their Champions League elimination at the hands of Feyenoord last week and defeat to Torino on the weekend.
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The Rossoneri now sit in seventh place on the Serie A table, eight points away from fourth place.
Calciomercato.com says Milan can end their deal with Conceicao at the end of the season should they fail to qualify for the Champions League.
The Portuguese's contract runs to 2026 and is worth a mooted €1m-a-year.