Chelsea are reportedly interested in signing AC Milan ​Rafael Leao, with Premier League rivals Manchester City also interested in signing the AC Milan star.

According to La Gazzetta dello Sport via Tribal Football, Leao favours extending his AC Milan contract over leaving for Chelsea.

Leao, who has a release clause of €150million, is out of contract in the summer of 2024, which means he could leave for a lower fee next summer.

However, it appears Leao is happy with the Italian champions and wants to renew his deal. Leao currently earns €2million net per season, and will only renew for a significant wage rise.

He is reportedly demanding wages of around €7million per year to extend his contract with AC Milan.