AC Milan chief executive Marco Fassone has warned goalkeeper Gianluigi Donnarumma that he is running out of time to make a decision regarding his future at the club.

The 18-year-old has been a regular starter in the Milan team since making his debut aged just 16, but his performances have drawn interest from the likes of Juventus, Chelsea, Manchester United and Manchester City.

Donnarumma has just one year remaining on his current deal at San Siro and it had been suggested that the club would force the youngster to spend a season on the sidelines if he opted against renewing his contract, but Fassone insists that will not be the case.

"The fans can relax, as we are putting in the effort to build a competitive squad. We are renegotiating the voluntary agreement [on Financial Fair Play] with UEFA, we'll see if there's a deal by June, otherwise we'll meet again in November. I am optimistic," he told Mediaset Premium.

"Mino Raiola is one of the best agents, so I wouldn't criticise what he does. Gigio is a pillar for us to build the team around next season. We told him that and we told his agent. We are clarifying the situation. When I look at Donnarumma, I see in his eyes the desire to remain. What we cannot do is wait around. We need to give Montella his squad, we want to know if we've got a goalkeeper coming to the end of his contract or not.

"Our timeframe is rather shorter than Raiola would like. I am sure we'll find a solution, but at the moment there are no meetings planned. Leaving Donnarumma in the stands for a year? No club would do such a thing. We don't want a goalkeeper whose contract is running down. We'll make our evaluations and we need a Plan B in case things don't go the way we want.

"It's a plan we have not yet fully developed, because we are convinced our project is ideal for Gigio. We are ready to make sacrifices for him, but if the response is not positive, then we'll look to Plan B."

Donnarumma has already made 71 appearances for the Milan senior team.