Leonardo, 20, is on the books at Santos and the Italian giants agreed a deal with the attacker in August.
However, Roma failed to reach an agreement with Santos for the Brazilian star and his potential move to Rome fizzled out eventually.
The attacker also drew interest from Manchester United as the Premier League giants were keen on bringing in him after loaning out Mason Greenwood.
Roma remain keen to sign him in January, especially with an agreement in place with the player, but Manchester United continue to lurk, according to Italian daily Il Messaggero (via LaRoma24).
Santos are now struggling with financial constraints and Leonardo’s sale could ease their monetary burden.
Leonardo also wants to leap overboard and it remains to be seen if Roma will finally be able to land their long-standing target next year.
They could face a battle however if Manchester United firm up their interest in the new year.