Valuations close to £61 million for both players have reportedly put off other suitors. However, Milan are said to be interested in a swap deal, according to the Corriere dello Sport (h/t Lorenzo Bettoni at Calciomercato.com).
Chelsea goalkeeper Thibaut Courtois is widely regarded as one of the best in Europe, but his future at the club is uncertain. The club have stopped contract renewal negotiations and are likely to sell the Belgium international, per Sky in Italy (h/t Sky Sports).
Goal offered a neat overview of his situation at the club:
If Courtois were to depart, Chelsea would need to bring in a top-quality replacement, and Donnarumma fits the bill. The Italian is still only 19 but possesses a wealth of first-team experience and is one of the most promising young goalkeepers around.
AC Milan sporting director Massimiliano Mirabelli has said the club could sell the teenager if they were to receive an acceptable offer, per Mediaset Premium (h/t George Flood for MailOnline).
"We must protect Donnarumma and we'll protect him to the end," he said. "After that, as with all the other players, we'll see what happens. He is part of the club's heritage and we wouldn't let go of him easily, unless of course someone values him the way he must be valued. If a good enough offer arrived, any of our players could be sold. There are far richer clubs out there and we have to choose other paths."
Morata is another player whose future is the subject of speculation after an unimpressive first season at Stamford Bridge. He scored 11 Premier League goals but failed to cement a regular place in the team, and the Blues would have expected more from their club-record signing.
The striker is interested in a move to AC Milan although his wage demands may prove a problem, according to the Gazzetto dello Sport (h/t Kaustubh Pandey at Calciomercato.com).
AC Milan have financial concerns after they invested heavily in the squad last summer but failed to secure a place in the lucrative UEFA Champions League. They are being investigated by UEFA for breaching financial fair play rules and could face punishment, per BBC Sport.