Paris Saint-Germain have opened negotiations with AC Milan for promising goalkeeper Gianluigi Donnarumma, according to the Guardian's Fabrizio Romano.
Milan are reportedly open to selling the 20-year-old for €50 million.
PSG could offer the Italian side 'keeper Alphonse Areola and €20 million for Donnarumma, according to Sky Sport Italia's Gianluca Di Marzio.
Independent group CIES Football Observatory values Donnarumma at somewhere between €50 million and €70 million.
PSG tried to sign Donnarumma in 2017 when he and his agent, Mino Raiola, stalled on a new contract with the Rossoneri. Donnarumma eventually agreed to a four-year deal at a reported €6 million per season, making him one of the highest earners in Serie A.
Faced with an angry fan base, Donnarumma gradually won over supporters with a series of spectacular saves during the 2018-19 season.
However, with a change in ownership and losses in the hundreds of millions, Milan may have to sell one of their protagonists to balance the books.