Rafael Leao has agreed terms over a new long-term contract with AC Milan, sources have told 90min.

The Portugal forward's deal was due to expire at the end of the 2023/24 season and talks between the two parties have long been ongoing over a fresh one.

And 90min understands Leao has now agreed a new five-year contract at San Siro, with the player's representatives informing interested parties of the decision.

Chelsea had long courted Leao and have spent lavishly in the Todd Boehly era, while Manchester City had been keeping a watchful eye on his contract negotiations with Milan.

There had been an ongoing legal case between previous clubs Lille and Sporting CP over an unpaid transfer bill from the former to the latter, but this has since been sorted.

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Milan have not removed Leao's €150m release clause from this new contract.

Leao has announced himself as one of the world's premier forwards in recent years, firing Milan to their first Scudetto in over a decade last season. He won Serie A's MVP award for his stellar performances.

Though Milan have fallen short in their Serie A title defence this term, Leao has been the shining light in their run to the Champions League semi-finals. His crowning moment came in their quarter-final second leg at Napoli, teeing up Olivier Giroud's tie-clinching goal with an enthralling solo run.

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On this edition of Talking Transfers, part of the 90min podcast network, Scott Saunders, Graeme Bailey & Toby Cudworth discuss the possibility of Neymar joining Newcastle, Jude Bellingham's decision on his future and Lionel Messi leaving PSG.

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This article was originally published on 90min as Rafael Leao agrees terms over new Milan contract.