that the deal was all but done, with Baniyas announcing the move on social media.
The defending A-League champion confirmed it had agreed to release Milligam, who will link up with Baniyas when the Arabian Gulf League's transfer period begins on 15 July.
The 29 year-old Socceroos star made 73 A-League, five AFC Champions League (ACL) and three FFA Cup appearances since joining Victory in January 2012.
Milligan was appointed captain in September 2013 before guiding the club to its third Premiership-Championship double in 2014-2015. He capped a stellar season this year by being awarded the Joe Marston Medal as best afield in the 2015 Grand Final.
"Mark has been a wonderful servant for Melbourne Victory who has led by example at every opportunity," Victory coach Kevin Muscat said. "He won the Victory Medal in 2012-2013 and played a major role in our Premiership-Championship double last season.
"The offer from Baniyas presents a significant opportunity for Mark and his family that he would like to pursue.
"We wish Mark all the very best for the future and thank him for his service to the club."