Milan have reached 6 August without completing a single sale, the first time in over 20 years that the window has run this long without an outgoing, according to La Gazzetta dello Sport.
That silence sits alongside heavy spending. Goncalo Ramos and Mario Gila arrived inside the first two weeks, and the money going out of Casa Milan has already climbed past €100m while nothing has come back in.
Gazzetta put the outlay at €70m for Ramos, €30m for Gila and €3m for Sankhoun Diawara, more than half of a €200m figure Milan never intended to reach this summer. On new signings alone, excluding buy-outs, they are the biggest spenders in Serie A, ahead of everyone once Juventus and Como are stripped of their permanent redemptions.
The contrast with recent windows is stark. By mid-August 2025, per Gazzetta, Milan had already sold 15 players, options to buy included, for €157m, with Tijjani Reijnders gone to Manchester City, Theo Hernandez to Al-Hilal and Malick Thiaw close to Newcastle. Two years ago Charles De Ketelaere brought in around €20m from Atalanta, and the summer before that Sandro Tonali left for Newcastle for close to €60m. There was always movement. This year the outgoing column is blank.
Part of the reason is Ruben Amorim. The coach wants time to assess the whole group, from the youngsters to players who looked finished at Milanello only weeks ago, with Samu Chukwueze and Ruben Loftus-Cheek both getting another look. A new management team more comfortable scouting talent than lining up buyers is the other half of it.
The knock-on effect is showing in specific deals. Amorim has reportedly paused the Pervis Estupinan negotiation with Aston Villa, holding back because he wants a quick winger strong in one-on-one situations, and Davide Bartesaghi does not offer those qualities.
The message from Milanello is that everyone starts level and can earn a permanent place, David Odogu, Samuele Ricci and Zachary Athekame among those handed the chance despite limited minutes last season. The friendlies against Chelsea and Manchester United, after the meeting with Inter, should give Amorim firmer answers.
One case is more delicate than the rest. Gazzetta note that Rafael Leao may now stay simply because the right offers are not arriving, leaving Milan needing sales they have not been able to make.
From here it falls to Amorim to decide who stays and who is cashed in, and the calendar is not on his side.