The race for Rafael Leao is intensifying ahead of the summer transfer window, with both Liverpool and Manchester United understood to have held serious discussions over a potential £60 million move for the AC Milan winger. The 25-year-old has been one of Serie A's most electrifying performers this season, contributing 16 goals and 11 assists across all competitions — and now his future at San Siro is genuinely in doubt for the first time since he arrived from Lille in 2019.
Milan's position is being forced by financial reality. The club's American owners, RedBird Capital, are under pressure to balance the books after substantial investment in the squad, and Leao — whose release clause has reportedly expired — represents their most sellable asset at a value that could be negotiated rather than fixed. Both Liverpool and United are aware of this window and are pressing their advantage.
Liverpool's Case: Width, Speed and the Post-Salah Era
For Liverpool, Leao would represent a dramatic statement of intent in the summer after Mohamed Salah's departure. Manager Arne Slot has been building a more possession-oriented system, but he understands the need for a direct, high-speed forward capable of winning games on his own. Leao provides exactly that. His dribbling numbers put him among the top three wide forwards in Europe this season, and at 25 he is entering what should be the prime years of his career.
The sporting director Florian Plettenberg has been in contact with Leao's camp since March, according to reports from Italy. Liverpool are understood to be willing to offer a five-year contract — removing any wage concerns that might complicate a £60 million deal — and the player is said to be flattered by the interest. A move to Anfield would represent a significant step up in profile and competition level.
United's Interest: Carrick Wants a Left-Footed Wide Option
Manchester United's interest is perhaps more surprising given their summer constraints, but Michael Carrick has made a wide attacker his priority target. Carrick is known to prefer players who can operate across the front line with pace and directness, and Leao fits the profile precisely. United's scouts have watched him extensively in both Serie A and Champions League football this season, and the club's ownership — now under INEOS — are prepared to sanction a significant outlay if the right player can be secured.
Milan's Stance and the Timeline
AC Milan will not sell cheaply. Despite their financial situation, they regard Leao as irreplaceable in their system and are thought to be holding out for closer to £70–75 million. At £60 million, both Liverpool and United would need to structure the deal creatively — perhaps with add-ons or performance bonuses — to reach a figure that satisfies the Italian club's board. The player's own preference remains unclear, though sources close to his camp suggest he is open to leaving if the project offered is compelling enough.
Transfer context: Rafael Leao, 25. AC Milan, contract until 2028. Liverpool and Manchester United among interested parties. Reported valuation: £60–75 million. Image: Leao AC Milan | CC BY-SA 4.0
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