Overview
- Fenerbahçe sent a delegation to Milan for face-to-face talks and left the city after meetings on Monday without a deal.
- The Turkish club lodged an opening package reported at about €40m in fixed fees and add‑ons or a loan-plus-obligation structure.
- AC Milan have rejected loan-based formulas and are demanding a straight permanent sale near €50m with bonuses.
- Rafael Leão wants to leave this summer but remains under contract through 2028 and is due to rejoin Milan’s pre-season tour in Australia if no transfer is completed.
- Negotiations now hinge on Fenerbahçe’s Champions League revenue, the clubs agreeing a fee and Leão’s high wage demands as Milan look to raise funds after major summer spending.