According to the Daily Mail, Rafael Leao is becoming a target for Real Madrid after Milan indicated they are willing to sell the 26-year-old. Milan may need to make significant sales this summer to balance their finances after not winning the Serie A title. With two years remaining on his contract, Leao could be sold for a fee of £60 million (€69.2m). A number of sides have made enquiries, hoping to complete a deal before the World Cup. Interest in Leao could become complicated as the Milan player is involved in a controversy surrounding Italian football; however, Leao posted a statement on social media denying his involvement.

According to Team Talk, Real Madrid are interested in a summer deal for Leao in 2026. Leao is contracted to Milan until 2028, and the Italian club values him at £60 million (€69.2m, $81m).

According to The Daily Mail, Real Madrid is monitoring Rafael Leão. The club is currently investigating whether a summer transfer for the Portuguese winger is feasible. Rafael Leão's contract with Milan runs until mid-2028, and his transfer fee is set at £60 million, which is approximately €70 million.

Real Madrid has identified AC Milan's Rafael Leao as a potential replacement for Saudi Arabia-linked Vinicius Junior.