Porto prepared to walk away from Gimenez negotiations as Milan reject €15m offer

Reports in Portugal claim that Porto have already begun to look at alternative options at centre-forward after seeing an offer to sign Santiago Gimenez from Milan turned down earlier this week.

Milan and Porto at an impasse in Gimenez negotiations

Gimenez is considered surplus to requirements at San Siro following Milan’s club-record deal for Goncalo Ramos from Paris Saint-Germain earlier this window and are now seeking a buyer for the Mexico international.

Porto had been among the list of clubs interested in a potential deal for Gimenez, who joined Milan from Feyenoord at a cost of €32m plus add-ons in the winter of 2025, but the Portuguese side are now prepared to walk away from the deal according to reports from O Jogo.

Earlier this week, it was reported that Milan had turned down a proposal from Porto that consisted of an initial season-long loan deal with an option to buy for €15m.

O Jogo, meanwhile, reports that Milan are seeking a fee to send Gimenez out on loan for the 2026-27 season and that they want an option or an obligation to buy fee set in the region of €20m-€25m.

The Portuguese outlet adds that there have not been any developments on the Gimenez front after Milan turned down the €15m loan offer on Tuesday evening and that Porto have already begun to contact other transfer targets at centre-forward.