The 26-year-old Portugal winger, once valued at €90 million and protected by a €175 million release clause, can now be bought for as little as €50 million, according to Corriere della Sera.
That is a dramatic shift — and it reflects a dramatic change in circumstances at the San Siro.
Leão's relationship with manager Massimiliano Allegri has reportedly broken down badly. He made headlines in recent weeks for reacting furiously to a substitution during an away match at Lazio, then missed the following game against Torino through injury.
Contract renewal talks have stalled completely.
Milan have decided they would rather cash in now — while they still can — than risk losing him for nothing when his deal expires in June 2028.
Mendes has offered the winger to several clubs, with Barcelona among the first approached. The Catalan club, however, are not interested. According to Sport, Hansi Flick prefers to keep Marcus Rashford, who has scored five Champions League goals since joining on loan from Manchester United. Rashford's pressing intensity fits what Flick demands from wide players. Leão's defensive commitment does not.
The numbers remain impressive on paper. Since arriving from Lille in 2019, Leão has scored 80 goals and contributed 64 assists in 285 appearances for the Rossoneri, winning the Serie A title in 2021-22. This season he has managed 10 goals in 25 appearances — decent, but well below the levels that once had Bayern Munich and other elite clubs monitoring him closely.
At €50 million in today's market, a player of his ability represents obvious value.
The question is whether any club wants to take on the baggage that comes with him.