Chelsea have informed AC Milan that they will have to hand over £62m if they are to sign Spanish striker Alvaro Morata, according to a report.

Negotiations between the two clubs are said to have started on Wednesday after the player, who scored 11 goals in 31 Premier League outings last term, pushed for a move away from Stamford Bridge.

Morata is said to be keen to return to Serie A, where he has previously spent time with Juventus, and is hoping that an agreement can be reached in the ongoing discussions.

Sky Sport Italia suggests that the sides remain poles apart in their valuations of the 25-year-old, however, with Chelsea looking to make a profit on the £58m spent to sign the ex-Real Madrid man last summer.

Milan sporting director Leonardo may now focus on bringing in Radamel Falcao or Gonzalo Higuain, it is claimed, although the latter is also a target for Chelsea.