AC Milan chief Adriano Galliani admits they've been priced out of a move for AS Monaco midfielder Geoffrey Kondogbia.

The France international is also wanted by Inter Milan, Arsenal and Tottenham.

“Competition made the player's price and his salary explode," he told La Gazzetta dello Sport.

“The winner is going to bleed himself out. We're starting from €35m, but this could go beyond €40m.

“And now Kondogbia is asking for quite a few millions to be convinced.

“The winner of this contest is not necessarily the real winner. I'm neither pessimistic nor optimistic."