Rafael Leao transfer latest: Premier League clubs on red alert as ‘much lower’ AC Milan asking price is revealed

Premier League clubs have reportedly discovered the asking price of wantaway AC Milan attacker Rafael Leao this summer.

The 26-year-old announced over the weekend that he is looking to leave San Siro ahead of the new campaign, seeking a fresh challenge in a different league after seven seasons with Milan.

Speaking to Portuguese channel SportTV, Leao said: "I think, to be honest, I've already given everything I could for Milan, right? It was a club that helped me grow a lot, that supported me in difficult moments.

“I think everyone has dreams, challenges and the ambition to have a new challenge, in a new league, and if that happens, I'll be very happy and also fulfilled because I did my job at Milan."

According to journalist Fabrizio Romano, Leao has ‘surprised everyone’ at Milan with the timing of his announcement, and a host of European clubs are said to be keeping tabs on his situation.

Leao could be available for £43.3m amid Premier League interest

Managerless Liverpool, who recently sacked Arne Slot, are one Premier League giant who have been credited with an interest as they aim to replace club legend Mohamed Salah.

Calciomercato claims that Chelsea are long-term admirers of Leao, while Premier League champions Arsenal, Manchester United, Tottenham Hotspur and Newcastle United are also among those keeping an eye on a proposed summer deal.

Turkish duo Galatasaray and Fenerbahce could also enter the race for Leao’s signature, but La Liga champions Barcelona and Bundesliga winners Bayern Munich are not expected to pursue a move for the Portugal international.

Leao is under contract at San Siro until June 2028, earning €7m (£6.1m) a year including bonuses, and he is said to have a €175m (£151.5m) release clause that is due to expire in early July.

However, Milan are happy to let Leao leave for a ‘much lower figure’ between €50m (£43.3m) and €60m (£52m), and this price could drop further following the attacker’s public request to depart.

Leao’s Milan career assessed as summer transfer looms

Leao joined Milan from French club Lille in the summer of 2019 and has since made a total of 291 appearances across all competitions, scoring 80 goals and registering 65 assists.

Comfortable operating as either a winger or central striker, Leao inspired Milan to Serie A glory in 2021-22 when he recorded 11 goals and 10 assists to claim the division’s Footballer of the Year award.

Leao scored 15 goals and provided 10 assists in 35 Serie A games the following season – his best return as a Milan player – and for four seasons in a row, he reached double figures for assists in Italy’s top division.

The former Sporting Lisbon youngster had established himself as one of Europe’s most feared attackers, but he experienced an inconsistent 2025-26 campaign as Milan missed out on securing Champions League football, finishing fifth in Serie A.

Leao still recorded nine goals and three assists in 29 top-flight matches, but after losing some support from Milan fans, he now wants to test himself elsewhere before entering the prime years of his career, with a switch to England emerging as a possibility.