AC Milan winger Rafael Leao has reportedly rejected offers from Chelsea and Real Madrid.
The Portugal international scored 11 goals and provided 10 assists across 34 league appearances last season, helping AC Milan end their 15-year wait for the Serie A title.
Leao has continued to play a key role for his side this term, registering 13 goals and 12 assists in 41 competitive games.
With his current contract set to expire in June 2024, Leao's performances have led to interest from a number of clubs across Europe.
Chelsea and Real Madrid are among the interested parties, and they recently held talks with the player's agent, Jorge Mendes.
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According to La Gazetta dello Sport, Leao has decided to snub proposals from Chelsea and Real Madrid following the discussions with representatives from both clubs.
The report claims that Mendes will now focus on moving forward with negotiations over a new AC Milan contract.
Leao's salary is not expected to be an issue, with AC Milan happy to increase his current salary from €1.8m (£1.6m) to €7m (£6.1m) per year.
However, there is still no agreement in place on whether the Italian giants will assist Leao in paying off the £13.8m that he owes his former club Sporting Lisbon.
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The 23-year-old was ordered to pay the fee for breaching his contract when he terminated his Sporting deal in 2018 after roughly 50 of the club's fans broke into the training ground and attacked their own players.
Leao is keen to come to an agreement over a new AC Milan contract, after previously revealing that he wants to stay at the club.
The former Lille player has helped his side progress to the Champions League semi-finals, where they will face city rivals Inter Milan.
Leao scored both goals in Saturday's 2-0 league win over Lecce, and he is expected to be involved when AC Milan face fellow top-four hopefuls Roma at the weekend.
