The release clause allowing clubs to sign Rafael Leao from AC Milan will expire at midnight on July 15, meaning any future move will be determined purely by negotiation.
As reported by La Gazzetta dello Sport (via Milan News), Milan will both lose and gain some protection when it comes to Leao in the transfer market.
Assuming the clause is not triggered before midnight CEST, there will now be no upper limit as to what fee Milan could get for Leao if he were to leave the club.
What it does mean is that if a club bids much less than €175m, Milan cannot just refer them to the release clause. They have to reject it or negotiate and right now, Leao is not worth €175m to any club.
Leao has shown no interest in leaving the club this summer and given he had a fairly underwhelming 2023/24, there has been almost no interest in him from big clubs like Chelsea and Paris Saint-Germain.
The most serious interest has come from Al Hilal in Saudi Arabia, but they were not willing to meet the €175m release clause.
Leao is currently on holiday after the 2024 European Championship and will soon return to training and begin work with compatriot Paulo Fonseca.