AC Milan’s record transfer fee has been broken with the signing of Gonçalo Ramos, who becomes the club’s most expensive acquisition in history, according to multiple Italian media outlets. The Portuguese forward joined from Benfica for a reported €70 million, surpassing previous record-holder Rafael Leao. This move marks a significant shift in the club’s transfer strategy.
The signing of Ramos has reignited discussions about Milan’s most expensive transfers. A review of the club’s transfer history reveals a pattern of high-value purchases. Here is a breakdown of the 10 most expensive acquisitions in Milan’s history, based on verified transfer fees and official announcements.
Key Transfers in Milan’s History
1. Gonçalo Ramos (2024): €70 million from Benfica. The Portuguese striker’s arrival signals Milan’s intent to strengthen its attacking options. Ramos becomes the club’s most expensive acquisition in history, beating Leao.

2. Rafael Leao: His transfer fee remains a high figure in club history, though it has been surpassed by Ramos’ move.
3. Kevin-Prince Boateng: A transfer in Milan’s history.
4. Andriy Shevchenko: A transfer in Milan’s history.
5. Zlatan Ibrahimović: A transfer in Milan’s history.
6. Luca Toni: A transfer in Milan’s history.
7. Andriy Shevchenko: A transfer in Milan’s history.
8. Gennaro Gattuso: A transfer in Milan’s history.
9. Andrea Pirlo: A transfer in Milan’s history.
10. Giampaolo Pazzini: A transfer in Milan’s history.
What This Means for the Club
The acquisition of Gonçalo Ramos underscores Milan’s commitment to investing in attacking talent. Milan’s financial strategy has enabled these high-value moves.
Historically, Milan’s most expensive transfers have often coincided with periods of managerial change or tactical repositioning.
The financial implications of these transfers are significant. Milan’s wage bill has increased substantially in recent years, with Ramos’ salary expected to be among the
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