Chelsea offered Rafael Leao for cut-price £34m as Arsenal and Manchester United pull out of race

Chelsea have been handed a major boost in the final weeks of the transfer window after being offered the chance to sign Portugal World Cup star Leao. The 27-year-old has been one of the most consistent performers in Serie A over the last decade, but his time at the San Siro appears to be coming to an end as AC Milan look to balance their books.

Despite his standing as a world-class talent, his price tag has plummeted during the summer months, with reports in Italy suggesting that a bid of just €40m (£34m) would now be enough to sanction his exit.

According to La Gazzetta dello Sport, the winger's representatives have been sounding out potential suitors across Europe after initial interest from other Premier League sides stalled. While Milan first attempted to facilitate a move to Serie A rivals Roma, the Giallorossi are not currently pursuing a deal, leading Leao’s camp to contact Chelsea.

Arsenal were heavily linked with Leao during the early stages of the window, as Mikel Arteta searched for reinforcements following Leandro Trossard’s exit. However, the Gunners appear to have found their solution elsewhere, having signed Christos Tzolis in a £34m deal from Club Brugge. The Greece international has already made a significant impact in North London.

With Gabriel Martinelli also potentially on the move, Arteta was briefly open to a second attacking addition, even making an ambitious move for Real Madrid’s Vinicius Junior, but the club’s focus has now shifted toward defensive targets.

Manchester United also held a concrete interest in Leao when the market opened, but Michael Carrick’s side is now well-stocked in wide areas. The arrivals of Mateus Cunha and Bryan Mbeumo last summer have provided the Red Devils with sufficient depth, leading them to join Arsenal in withdrawing from the race for the Milan man.

Leao has never hidden his desire to test himself in England, having previously expressed his admiration for the style of play in the Premier League. Earlier this summer, the winger spoke openly about his future and the need for a change of scenery. "I need a new challenge. I already won two trophies in Italy and have been there for a while," Leao said.

He added: "The league [Serie A] is evolving, but for my style of football, I think the Premier League or La Liga would make more of my talent, as a player. If a Premier League opportunity were to come along, I would be very happy."

Leao's pedigree on the international stage further highlights his quality, as he played in all five of Portugal’s games at the World Cup under Roberto Martinez. He managed to get on the scoresheet once during the tournament, though the campaign ultimately ended in disappointment as the Selecao reached the last-16 before losing to eventual winners Spain.

With his peak years still ahead of him at 27, Leao believes he has achieved all he can in Italy and is desperate to prove he can maintain his high-scoring standards in what many consider the toughest domestic league in world football.