Milan are reportedly way off what is being asked for by Gianluigi Donnarumma, putting contract negotiations in doubt.
An improved offer for the goalkeeper has been impossible until now, with rules stating such a deal cannot be brokered until the youngster turns 18 on Saturday.
According to Corriere dello Sport, Milan are offering a deal worth €2.5m per year with bonuses that will increase year on year, whilst agent Mino Raiola wants to see the player earn between €4.5m and €5m per season.
The player has received interest from many high-profile clubs including Chelsea, Real Madrid and Manchester City but has stated his desire to remain at his home-town club.
Closer to home, Juventus are also said to be interested, as they seek a long-term replacement for 39-year-old Gianluigi Buffon.