Leao was linked with Chelsea towards the end of the 2022 summer transfer window, but no move came to pass.
And now, Manchester United and Manchester City have taken the lead in the race for the Portuguese.
The 23-year-old has continued to impress in Milan, scoring 10 and assisting seven in 27 Serie A ties so far this season.
Leao has also provided three assists and one goal in eight Champions League games this term.
The winger is under contract at the San Siro until 2024, meaning he will have just one year left on his current deal come the summer, and if he does not renew, the Italian powerhouse will need to sell in the next window to ensure they are still able to recoup a decent fee for him.
Now, AC Milan director Massara has spoken out on the situation and stated there is a 50 per cent chance Leao will renew his deal, meaning there is a 50 per cent chance he will be sold this summer:
“Rafa will have the final say. It’s not easy to mention percentages but I’d say it’s 50%”.