Milan president Silvio Berlusconi confirmed the transfer to Sky Sport 24.
"Yes, I've sold Zlatan Ibrahimovic and Thiago Silva to PSG," he said. "We will save €150 million over two years."
The San Siro club's financial woes have been well publicized, and the club will look to offload the players to ease some of its debt. Ibrahimovic and Thiago Silva are currently the club's highest earners.
The news comes as a surprise, especially with regards to Thiago Silva. The defender, who has always stated his desire to remain with Milan, extended his contract through 2017 just last week.
The 27-year-old Brazilian was close to a €46 million move to the Ligue 1 side just prior to extending his contract. Instead, Milan president Silvio Berlusconi decided to reject the bid for the 27-year-old Brazilian.
In a complete about-face, Silva and Ibrahimovic now appear to be on their way out of the club.
The news will not please fans of the Rossoneri—Ibrahimovic was Serie A's top scorer last season, and Thiago Silva has emerged as one of the world's top center backs in his time with Milan.
It's not the first time in recent time that Milan has sold their top talents. In the summer of 2009, Milan sold superstar Kaka to Real Madrid for a then-record fee of €68.5 million in a deal also intended to ease financial problems.
Follow me on Twitter: @BeauBourne
Like the new article format? Send us feedback!