Report: AC Milan close to making €70M deal for Real Madrid's Morata

AC Milan is close to reaching an €70-million agreement with Real Madrid over the signing of Alvaro Morata, according to La Gazzetta dello Sport's Carlo Laudisa and Marco Passoto.

The Rossoneri are reportedly prepared to offer the Spanish striker €10 million a season, which would apparently exceed Chelsea's economic proposal.

Those figures represent an increase from Laudisa's initial report in May, when Gazzetta's senior writer claimed Morata had agreed to a potential €60-million move with the promise of earning €7.5 million per year.

Manchester United's interest in the 24-year-old appeared to derail Milan's pursuit, but the Red Devils have relented after securing the services of Romelu Lukaku.

Sporting director Massimiliano Mirabelli confirmed to media Monday that Milan has been targeting Morata "right from the start," but added he would arrive "only on our conditions."

Talks over Morata began just before Milan embarked on a massive spending spree.

"There were some complications that emerged between the final of the Champions League and when other clubs who were interested arrived, so it all cooled down," Mirabelli said, per ESPN FC's Ben Gladwell.

In the time since, the Italian side has recruited 10 new players, most notably Leonardo Bonucci, who agreed to a controversial switch from Juventus.

Laudisa and Passoto believe Bonucci's friendship with Morata - which dates back to their two years together in Turin - has already had an impact on negotiations.

Chelsea also remains an option for Morata, who scored 15 La Liga goals last season despite spending significant time on the bench.