AC Milan have made their stance clear on Rafael Leao: the Portuguese forward is not for sale, unless a club is willing to pay a staggering €100 million. The message comes loud and clear as European giants, including Bayern Munich, continue to monitor the 26-year-old’s progress following another mixed season.
Despite a relatively underwhelming season with Milan, Leao collected two trophies: the Italian Super Cup and the UEFA Nations League. In both finals, the winger came off the bench and made an impact. His assist in the dramatic comeback win over Inter in the Supercoppa final and his lively presence in Portugal’s penalty shootout triumph against Spain were notable high points. Yet, Leao’s overall output has come under scrutiny.
Leao scored eight goals in Serie A, all away from San Siro, alongside one in the Coppa Italia and three in the Champions League. However, he struggled to deliver in key moments, and fans were left disappointed by his failure to score at home throughout the domestic campaign. He ended the season with 12 goals and 13 assists in 50 appearances, solid numbers, but perhaps short of elite expectations.
The Rossoneri have priced Leao at €100 million, with the goal of deterring offers. While his contract includes a €175 million release clause, Milan are not actively seeking a sale. However, they remain open to “indecent proposals”, massive offers that would allow the club to rebuild strategically. Any potential deal would require significant cash and possibly young, promising players in return. Milan are unwilling to entertain deals involving high-salary veterans.
As things stand, no club, not even Bayern Munich, has indicated a willingness to meet Milan’s valuation. This suggests Leao is likely to stay, especially as he continues to hold a central role in the club’s plans under new coach Massimiliano Allegri. While Theo Hernandez is reportedly on the market, Leao is expected to remain a cornerstone of Milan’s attacking strategy.
Leao joined Milan in 2019 from Lille and is now entering his seventh season at the club. Over that time, he has amassed 260 appearances and 70 goals. After winning the Scudetto in 2022 and earning Serie A MVP honors, Leao’s development plateaued under coaches Paulo Fonseca and Sérgio Conceição. Allegri’s arrival could be the catalyst he needs to reach new heights.
Al Nassr, home to Cristiano Ronaldo, has shown interest in bringing Leao to Saudi Arabia. While the idea of reuniting with his national teammate is tempting, Leao has yet to express any desire to leave Milan. His focus appears to be on maintaining his status in Europe, especially with Euro 2028 qualification and future Champions League campaigns on the horizon.
At 26, Leao is at a pivotal stage in his career. A wrong move could stunt his growth, while staying at Milan may offer him the best platform to fulfill his potential. His loyalty to the club has never been in question, even if he hasn’t always demonstrated it in overt ways. Milan, for their part, are keen to hold onto their No. 10, unless the right offer comes along.
As the summer transfer window heats up, all eyes will be on Milan and Leao. Will a club meet the €100 million price tag? Or will the Portuguese star start the 2025-26 campaign in red and black once again? For now, Milan’s message is simple: Rafa stays, unless you break the bank.
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