Leao is on of three Milan title-winners being made available this summer, alongside Mike Maignan and Theo Hernandez.
The Portugal attacker has a €175m buyout clause in his Rossonero contract, though Calciomercato.com says Milan are prepared to sell for €100m ahead of next season.
Watching developments closely are Chelsea, where Leao is regarded highly inside Stamford Bridge.
Chelsea officials met with Leao’s agent, Jorge Mendes. at the beginning of the month to register their interest. Leao’s deal with Milan runs to 2028.
