Alisson has been fervently linked with a host of Europe's top clubs, and Goal's Renato Maisani reported Roma will let him leave the Stadio Olimpico—but only if they can prise Donnarumma from the San Siro.
Donnarumma, 19, is seen as a top goalkeeping prospect, but he's endured a difficult relationship with Milan's board and some of the club's fans, while the recent signing of Pepe Reina suggests he could be allowed to leave.
Liverpool are reportedly looking to upgrade from Loris Karius at goalkeeper, while Real have long been linked with an improvement upon current starter Keylor Navas, and Thibaut Courtois' future at Chelsea looks uncertain.
Alisson, 25, recently starred for Brazil at the 2018 FIFA World Cup as they exited in the quarter-finals to eventual third-place finishers Belgium, and Liverpool writer Oliver Bond has said the club should go all out to land him:
Donnarumma is already a fully fledged Italy international and has been capped six times by his country, but a controversy erupted between him and Milan's fans in December when it was reported he was trying to leave the club.
A section of the Rossoneri support responded to rumours that agent Mino Raiola was attempting to organise the move by revealing a banner at a Coppa Italia game with Verona, per ESPN FC's Gabriele Marcotti:
Gabriele Marcotti @Marcotti
"Now, get out, our patience is at an end!" Milan fans' banner dedicated to Gigio Donnarumma, whose agent is suggesting he was coerced into signing his 4 yr, £40m extension last summer. PSG, Real Madrid + usual suspects on high alert. My @ESPNFC piece: https://t.co/OdnJmYrd9F https://t.co/yekPQlVYq4
The teenager needed consolation from centre-back Leonardo Bonucci after breaking down in tears in the dressing room, per the Telegraph's Callum Davis.
Club legend Paolo Maldini has even suggested it could be time for a parting of the ways due to the fact Donnarumma had "burned bridges" with the supporters, per The Independent:
Roma know that interest in Alisson is at a high following a superb 2017-18 campaign, which earned him a place in the UEFA Champions League Team of the Season, so cashing in now could be their optimal choice.
Similarly, Milan know the friction between Donnarumma and the fans may only worsen, and so this summer could be the time to sell before the situation becomes even more desperate on their part.
Milan may not be ready to place their faith in Reina, however, as he prepares to turn 36 in August, while incumbent No. 1 Donnarumma is considered a major prospect and could star at the top for close to 20 more years.
Maisani discussed a potential transfer deal in which Real purchase Courtois, who is then replaced by Alisson, leaving Roma with the funds necessary to complete their move for Donnarumma.