AC Milan are still tracking Chelsea's Didier Drogba and Arsenal's Emmanuel Adebayor as they hunt for a striker, says technical director Leonardo.
Milan need a new forward after selling Alberto Gilardino to Fiorentina, while Ronaldo has a serious knee injury.
"It's no secret we're interested in signing a forward and are studying candidates," Leonardo told BBC Sport.
"Drogba is a fine player and Adebayor is a player I really like. We are waiting for the right time to move."
Milan vice-president Adriano Galliani said in June that Adebayor was his club's "sole transfer target" of the summer, although he later said the 2007 European champions could not afford the Togo striker.
On Friday, Barcelona vice-president Ferran Soriano suggested the Catalans were close to signing the 24-year-old.
Ivory Coast forward Drogba, who was set to attend Chelsea's first day of pre-season training on Monday, has been linked with Milan's city neighbours Inter as well as Spanish giants Real Madrid and Barcelona.
However, it has been reported that Chelsea are yet to receive a single offer for the unsettled 30-year-old.
Milan will play in the Uefa Cup next season after missing out on Champions League qualification.
And World Cup-winner Leonardo admits they will struggle to compete financially with the likes of Chelsea, Manchester United, Real Madrid and Barcelona.
"We have to accept that the incomes of the top English and Spanish teams are greater than they are in Italy and it's very hard for us to compete," said the Brazilian.
"But there are other things we offer. We have a first-class environment for players and a wonderful history." 606: DEBATE Who should be Chelsea's top targets?
Meanwhile, Leonardo reiterated that there was "no possibility" of Chelsea signing Kaka.
Earlier on Monday, Galliani revealed that Milan had received an "astronomical offer" from the Blues for the Brazilian playmaker, a claim that the London club later denied.
Leonardo stated: "I can only repeat what we keep saying - there is no possibility of Kaka moving away from Milan.
"We have not received an official bid for him. He is very close to AC Milan and has a very, very good relationship with the club."
By Simon Austin
AC Milan are still tracking Chelsea's Didier Drogba and Arsenal's Emmanuel Adebayor as they hunt for a striker, says technical director Leonardo.
Milan need a new forward after selling Alberto Gilardino to Fiorentina, while Ronaldo has a serious knee injury.
"It's no secret we're interested in signing a forward and are studying candidates," Leonardo told BBC Sport.
"Drogba is a fine player and Adebayor is a player I really like. We are waiting for the right time to move."
Milan vice-president Adriano Galliani said in June that Adebayor was his club's "sole transfer target" of the summer, although he later said the 2007 European champions could not afford the Togo striker.
On Friday, Barcelona vice-president Ferran Soriano suggested the Catalans were close to signing the 24-year-old.
Ivory Coast forward Drogba, who was set to attend Chelsea's first day of pre-season training on Monday, has been linked with Milan's city neighbours Inter as well as Spanish giants Real Madrid and Barcelona.
However, it has been reported that Chelsea are yet to receive a single offer for the unsettled 30-year-old.
Milan will play in the Uefa Cup next season after missing out on Champions League qualification.
And World Cup-winner Leonardo admits they will struggle to compete financially with the likes of Chelsea, Manchester United, Real Madrid and Barcelona.
"We have to accept that the incomes of the top English and Spanish teams are greater than they are in Italy and it's very hard for us to compete," said the Brazilian.
"But there are other things we offer. We have a first-class environment for players and a wonderful history." 606: DEBATE
Who should be Chelsea's top targets?
Meanwhile, Leonardo reiterated that there was "no possibility" of Chelsea signing Kaka.
Earlier on Monday, Galliani revealed that Milan had received an "astronomical offer" from the Blues for the Brazilian playmaker, a claim that the London club later denied.
Leonardo stated: "I can only repeat what we keep saying - there is no possibility of Kaka moving away from Milan.
"We have not received an official bid for him. He is very close to AC Milan and has a very, very good relationship with the club."
http://news.bbc.co.uk/sport2/hi/football/7493231.stm