AC Milan CEO Claims He Is Waiting for Bayern Munich to Lower Renato Sanches' Asking Price

CEO Marco Fassone claims AC Milan are being priced out of a move for Bayern Munich starlet Renato Sanches, and are yet to enter into negotiations with the wantaway Portuguese international.

Rumours suggested that the highly-rated midfielder could make the move to San Siro from Bavaria this summer but, it appears no deal for the 19-year-old has been arranged between the two parties yet due to Bayern's asking price.

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However, Sky Sport Italia, Fassone admitted Milan are interested in Sanches and would be prepared to open negotiations for a move, if the Bundesliga champions lower their demands,.

Recent reports suggest the big-spending Serie A giants are keen on a two-year loan for Sanches, with the option to purchase for €40m.

However, while the player himself seems keen on a move, Bayern CEO Karl-Heinz Rummenigge is less willing to let the former Benfica man leave on loan.

"At this moment there are no negotiations," Fassone said, as quoted by Goal. "Our rapport with [Bayern CEO Karl-Heinz] Rummenigge is very good. 

"We've discussed the situation a couple of times, but at this moment they have a valuation of the player that we are not prepared to match. If the situation changes in August, then we are here."

Despite acquiring nine high-profile signings already this summer (including Leonardo Bonucci, Andre Silva and Franck Kessie) Vincenzo Montella's side are still keen to add more big names ahead of a Serie A title charge.

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The likes of Andrea Belotti and Pierre-Emerick Aubameyang have been linked with moves, as Milan seek to rebuild their past glory.