AC Milan are waiting for some departures to unlock their incoming transfer market activity and complete the squad, with Rafael Leao’s exit being the main one they are looking for.
Leao-Fenerbahce: double setback
In recent days, there has been strong talk of interest from Galatasaray and, above all, Fenerbahce, but the first slowdowns have already arrived.
The Rossoneri value the Portuguese winger at around €60 million and are not willing to go below €50 million, as relayed via Milan Press. Furthermore, the Italian club management has no intention of accepting a loan deal with an option to buy; they would only consider a permanent transfer or a loan with an obligation to buy.
Complicating the operation further is the player’s own stance, as Leao does not yet appear fully open to moving to the Turkish league.
The financial impact and capital gain for Milan
Calcio&Finanza have estimated how important selling Leao would be for Milan from a financial perspective.
His remaining book value as of 30 June 2026 is €11.2 million, meaning that a €50 million sale would generate a capital gain of almost €39 million. The positive financial impact of a departure would increase further due to the costs Milan would no longer have to cover: more than €12.1 million during the 2025/26 season between his gross salary and amortisation costs.
