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Rafael Leao has put all transfer talk on ice. The AC Milan forward declared on June 18 that he won’t entertain any conversations about his club future until after the 2026 World Cup wraps up, choosing to focus entirely on Portugal’s campaign in the tournament.
The contract, the clause, and the quiet transfer window
Leao’s contract with AC Milan extends through June 2028. His release clause sits at €175 million.
Despite earlier rumblings of interest from Premier League clubs, no formal offers have materialized during the current transfer window.
Leao himself had reportedly expressed interest in pursuing a new challenge earlier this summer.
The Amorim appointment changes the equation
Ruben Amorim was appointed AC Milan’s head coach in mid-June 2026, signing a two-year deal worth just under €3.5 million annually. The timing is impossible to ignore. Milan brought in a Portuguese coach right as their most valuable Portuguese attacker was publicly flirting with the exit door.
What this means for the $ACM fan token and Milan’s broader ecosystem
AC Milan operates one of the more established fan token ecosystems in European football, with the $ACM token giving holders access to various engagement opportunities tied to the club.
If Leao ultimately decides to stay at Milan, buoyed by Amorim’s presence, the engagement boost could be meaningful. Conversely, if Leao pushes hard for a transfer, that €175 million release clause becomes the central number in every conversation, handing Milan an enormous transfer fee to fund multiple signings.
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