‘Europe observes’ – Leao makes declaration on future as Milan set minimum price

Rafael Leao produced one of his best performances of the season on Sunday night against Atalanta, and a few days later at the launch of his book he made it clear he sees his future at AC Milan.

As La Gazzetta dello Sport (seen below) recalls, Leao’s celebration raised some eyebrows as it seemed like an almost angry reaction after the criticism he has received in recent weeks. The winger waved his hands in front of the cameras as if to say, ‘speak, speak’.

He hadn’t celebrated a league goal for five months, a drought which left a void that was inevitably filled with questions. The answer is clear again: Leao belongs to the small group among the best in his role.

Rafa’s rise

Leao made his way through the competition. He arrived at Milan in the summer of 2019 as a promising young player but a talent that needed some refining.

The Scudetto win in 2021-22 saw him crowned as the league MVP, while last year’s Champions League semi-final run was achieved thanks to Leao’s run and assist for Olivier Giroud away against Napoli.

The evolution has been constant, even with some necessary aftershocks. The market valuation followed the same trajectory: Milan bought him for €24, and protected him last year with a €175m release clause.

That release clause serves a double purpose, because it makes it clear that a very high offer would be needed to even bring Milan to the table, otherwise they will keep him locked in a safe rather than in the shop window.

Milan are not willing to open that safe and neither is Rafa, as he was asked questions about his future at the launch of his autobiography ‘Smile’ last night: “Where do I see my future? Here, where I am happy. PSG? I still want to win a lot with this important shirt.”

His true value and Milan’s stance

A combination to open the safe exists: 175, i.e. the number of millions in the clause. It would then be up to Leao to decide whether to leave or not. PSG, who will have to fill the void left by Kylian Mbappé, are among the clubs that could be interested.

The Rossoneri’s strategy is clear: none of the stars are for sale but there are offers that will be listened to, and Sandro Tonali is a practical example. It wasn’t Milan that looked for Newcastle, but Newcastle that arrived with a monstrous bid that allowed the squad to be revamped.

From Milan, Rafa is worthy of a three-figure offer, and an official bid of around €120m may well get their attention. However, it has to arrive first.

The modern transfer market does not offer discounts. In August 2021, Manchester City bought Jack Grealish – four years older than Leao – from Aston Villa for €117m. In January 2023, Mudryk went from Shakhtar to Chelsea for €100m.

These are useful comparisons to establish Leao’s market value, but in the mean time the winger has goals that he wants to tick off with Milan which, in turn, he can achieve thanks to his goals.