Gianluigi Donnarumma will not renew his contract with AC Milan

Donnarumma has turned down the chance to renew his contract with Milan Credit: PA

Teenage goalkeeper Gianluigi Donnarumma has put Europe's top clubs on high alert after choosing against renewing his AC Milan contract.

The 18-year-old has made over 70 appearances for the Rossoneri since making a surprise breakthrough in October 2015 and many fine performances have attracted attention from high places.

Serie A champions Juventus, LaLiga winners Real Madrid and Premier League club Manchester United are all reportedly interested in the young stopper and he appears to be on his way out of San Siro following an announcement by Milan on Thursday afternoon.

In quotes carried by La Gazzetta dello Sport, club director Marco Fassone told a press conference: "We are disheartened. (Donnarumma's agent) Mino Raiola has conveyed to me Donnarumma's decision not to renew. It's his final decision."

Milan are attempting to rebuild their squad after another disappointing league season saw them finish sixth in the table.

The position was enough to book Europa League football, but under new Chinese owners the Rossoneri are determined to return to the years of multiple titles and European success.

To that end, highly-rated Portuguese striker Andre Silva, Ivorian midfielder Franck Kessie and accomplished defenders Ricardo Rodriguez and Mateo Musacchio have already been expensively recruited but Milan will need to invest in a new top-class keeper if Donnarumma leaves this summer.

Fassone added: "We were really hoping that Gigio would be the goalkeeper of the new-look Milan team, a pillar of what we are building here, but we will have to reevaluate things.

"This decision, taken by the player and his agent, makes us sad but we must move forward, Milan must move forward."

The Castellammare di Stabia-born player has 12 months remaining on his deal at San Siro.