Rafael Leão

Reports consistently mention a release clause, most often at €175 million, with some citing €150 million. Throughout 2025, AC Milan's asking price has reportedly varied; figures as high as €130 million were linked to Saudi clubs, but a €100 million price was more commonly quoted to European clubs like Chelsea and Manchester United. Numerous reports suggest a willingness to negotiate lower, with figures of €70 million, €75 million, and €85 million frequently cited in links to Barcelona, Arsenal, and Bayern Munich. The most recent reports in late 2025 suggest a price tag of €80-85 million for a potential move to Arsenal. Saudi club Al Nassr reportedly had a €100 million offer rejected in early 2025, while Al Hilal's €100 million offer was reportedly rejected in June 2024.

Our valuation for Rafael Leão is driven by a high volume of transfer rumours consistently pricing him below his reported €175 million release clause. The lower bound of €70 million is based on multiple reports suggesting this is the minimum AC Milan would consider, particularly in links with Barcelona. The upper bound of €100 million is the most frequently cited asking price from Milan to various clubs like Manchester United, Chelsea, and Manchester City throughout 2025. Our estimate of €85 million is anchored by the most recent reports from late 2025 linking him to Arsenal in that specific price range, which aligns with figures Bayern Munich were also reportedly prepared to offer.