Milan are preparing a new and improved offer for AS Monaco midfielder Youssouf Fofana, but have also identified a potential alternative in Fiorentina target Richard Rios of Palmeiras.

According to Sky Sport Italia and Milan transfer expert Daniele Longo, the initial proposal of €12m plus bonuses was rejected, but another increased bid is set to be made over the next few days.

Monaco are holding out for at least €20m, despite the fact he is already into the final year of his contract and has no intention of renewing.

Fofana is eager to join the Rossoneri and has already agreed personal terms, so it is just about finding a deal with his club.

Milan do not seem to be in too much of a rush to get the agreement, knowing the longer this goes on, the more pressure there will be on Monaco to drop the price for a player who could be a free agent next summer.

Fofana first on Milan list

Meanwhile, Sky Sport Italia transfer pundit Gianluca Di Marzio also suggests that the Diavolo are looking at potential midfield alternatives, including Palmeiras and Colombia international Richard Rios.

There are a few problems here, as he does not possess an EU passport, so would take up one of the two remaining non-EU slots in the squad.

Rios has already been linked with Fiorentina by Calciomercato.com and the asking price has shot up to €30m following an impressive Copa America experience.

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