Milan set for Trezeguet swoop
The 31-year-old French striker has fallen down the pecking order in Turin and Juve officials have not discounted allowing him to leave.
A move to rivals Milan would not go down well with Juventus supporters but media reports say discussions have already taken place.
"I don't know at what point talks are at but Trezeguet is definitely an extraordinary player," Leonardo told Italy's Sky television from Milan's U.S. pre-season tour.
Milan, who finished third in Serie A last term behind Juve and champions Inter Milan, have been struggling to find a new forward after selling Brazil's Kaka to Real Madrid.
VfL Wolfsburg refused to let Edin Dzeko leave when Milan came calling while talks to bring Sevilla's Brazilian Luis Fabiano to the San Siro have stalled.