Inter plan to offer Real Madrid their Brazilian right-back Douglas Maicon in exchange for Kaka, according to Il Corriere dello Sport.
The Nerazzurri have been strongly linked with a move for Kaka in the last six months and the appointment of Leonardo has only served to add to the speculation.
Leonardo worked with Kaka at Milan and played a crucial role in bringing the player to Italy from Sao Paulo.
The Brazil international has only recently become available again to Jose Mourinho after missing the first six months of the season through injury.
Il Corriere dello Sport understands that Real Madrid will not consider any bid inferior to €35m for Kaka who famously moved to Spain for almost double that figure in the summer of 2009.
Buying Kaka outright would be a tough ask for Inter, especially as they try and balance their books in anticipation of UEFA's financial fair-play regulations coming into effect.
This is apparently the reason why Inter will offer Maicon in exchange for Kaka.
Real Madrid have a longstanding interest in Maicon and were in talks to sign him during the summer.