Bayern Munich and Barcelona have been credited with an interest in the Portuguese superstar, who has a release clause worth €175 million in his contract
The Catalan giants are looking to bolster their attack and have prioritised adding a new winger to their ranks.
Barca president Joan Laporta is a huge fan of Leao and also has a good relationship with the forward’s agent Jorge Mendes.
While the former Lille star’s price tag makes him a difficult target for financially struggling Barca, Bayern have identified him as a top target.
The German giants have turned their attention towards bringing in a top-class left-winger after failing to secure a move for Florian Wirtz.
They could be willing to spend big on Leao with the funds they had allocated for Wirtz.
However, Leao’s suitors appear to have suffered a setback as La Gazzetta dello Sport claims new Milan manager Massimiliano Allegri has deemed him untransferable.
The Italian boss has made it clear to sporting director Igli Tare that Leao will be a key player in his project.
Allegri believes Leao can be the difference-maker in his system and can further improve to reach new heights.
Regarded as one of the finest attackers in the world, the 25-year-old has racked up 70 goals and 62 assists in 260 appearances for Milan.
He has tallied 12 goals and 13 assists during an ill-fated 2024/25 campaign. However, his lack of consistency is an issue, with his numbers not matching his ability.
Leao will be determined to make an impact with the Portuguese national team in the Nations League finals next week.
