Chelsea signing AC Milan forward Rafael Leao this summer ‘is possible’, although the price tag may prove prohibitive, according to CBS journalist Ben Jacobs.

The Blues are known to be in the market for attacking reinforcements having missed out on Raphinha to Barcelona, and could now turn their attention to the highly-rated 22-year-old.

What is the latest news involving Leao?

Leao racked up 26 goal contributions in 42 appearances for Milan last season, winning the Serie A Player of the Year as he fired his side to their first league title in 11 years, leading to Matteo Bonetti describing him as “world-class."

The Portugal international’s current contract is set to expire in the summer on 2024, though, and Italian outlet La Gazetta dello Sport have claimed the Rossoneri have decided to offer him a new long-term deal as a result.

However, The Guardian have claimed that Chelsea are closely monitoring Leao’s situation after identifying him as an alternative target to Raphinha.

But it’s believed that Milan could demand up to £100 million for the versatile star, a figure that would make him the west London outfit’s record signing.

Jacobs also previously informed GiveMeSport that the youngster would prefer a move to Paris Saint-Germain if he is to depart San Siro, leaving Thomas Tuchel’s charges facing an uphill struggle.

What has Jacobs said about Leao?

Jacobs believes Milan’s valuation of Leao ‘might put Chelsea off’ from making a move and could force them to ‘reconsider other targets’.

He told GiveMeSport: “Rafael Leao is possible, although the price might put Chelsea off. The challenge generally is Chelsea need 5-6 names within a budget of, at the highest end, £250 million.

“So, if they spent £80+ million on Leao (and Milan could demand even more) they may have to reconsider other targets.”

Could Chelsea afford Leao?

If Chelsea do have a £250m budget as Jacobs predicts, then Tuchel will have already spent a large portion of that on deals for Raheem Sterling and Kalidou Koulibaly.

Sterling has reportedly set the capital club back £47.5m, while Koulibaly’s price tag is £33.8m, leaving £168.7m left to play with.

Spending such a large chunk of the remaining transfer kitty on one player would severely limit Tuchel’s options in what remains of the window and is a decision he will have to carefully consider.

Chelsea are thought to be keen on signing two further centre-backs after Koulibaly, and at least one attacker, meaning the club’s hierarchy will have to balance their budget wisely.