Chelsea set €25 million price tag as first summer exit inches closer - Reports

Chelsea have slapped a €25 million price tag on Ruben Loftus-Cheek amid interest from Serie A giants AC Milan, according to Italian outlet Calciomercato.com.

Loftus-Cheek rose through the ranks at the Blues' academy after joining the club at the age of eight. He made his senior debut for the English giants in their 3-1 win against Sporting CP in the UEFA Champions League under Jose Mourinho in December 2014.

The midfielder, who has had loans at Crystal Palace and Fulham, has since made 152 appearances across competitions for Chelsea, bagging 13 goals and 18 assists. He has helped the club win five trophies, including two Premier Leagues.

However, Loftus-Cheek is set to enter the final year of his contract with the west London outfit. Having struggled to establish himself as a regular starter for the Blues, the 27-year-old is at crossroads in his career.

AC Milan have been credited with an interest in signing the England international this summer. The Serie A club initiated contact to probe a deal for the midfielder in October when they faced Chelsea in the Champions League group stages, according to the aforementioned source.

The Italian giants are prepared to step up their interest in Loftus-Cheek with the summer transfer window fast approaching. As per the report, the former Crystal Palace and Fulham loanee has expressed his willingness to join Milan.

Chelsea appear to be prepared to sell Loftus-Cheek, especially as they need to raise funds to balance their books. They have set a €25 million asking price for the player if the report is to be believed.

However, there is a feeling that Milan can convince the Blues to lower the sum. Loftus-Cheek's deal ending next year and his willingness to join Stefano Pioli's side could act in the Rossoneri's favor. If the transfer goes through, the midfielder could be the first of several players to leave Stamford Bridge this summer.

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Chelsea had incredible offer for Rafael Leao rejected by AC Milan

Rafael Leao has bagged 40 goals and 34 assists from 160 appearances across competitions for AC Milan. He helped the Rossoneri win the Serie A last season. The attacker's performances for the Italian club have seen him attract interest from top teams.

Chelsea are among the clubs said to be interested in signing Leao. According to reports, the Blues offered Hakim Ziyech and Christian Pulisic in exchange for the forward last summer. They valued the Portuguese at €100 million and hoped Milan would accept the offer.

However, Stefano Pioli's side were quick to reject the bid as they wanted €150 million. Leao has since agreed to extend his contract with Milan. He has reportedly put pen to paper on a new five-year contract.