Italy President Silvio Berlusconi has refuted suggestions that he is about to sell AC Milan off.

Berlusconi took over Milan in 1986 and was responsible for appointing Arrigo Sacchi as coach and starting a very sucessful era led by Marco van Basten.

With the world in a midst of a reccession and Milan in financial trouble, there has been talk that the 73-year-old is looking to cash in on Milan.

But according to football-italia.net, Berlusconi has poured cold water on the idea and assures he never even considered selling Milan. "It's about affection, not economics."

"Selling Milan? No, we never even considered it," said Berlusconi during a political meeting in Sofia.

He also commented on David Beckham's likely return to San Siro on loan in January.

"We hope he can arrive as soon as possible."

Vice-President Adriano Galliani reiterated that Milan are not looking for new investors.

"Nobody has ever talked about Milan being put up for sale, it was invented by the media. I can confirm that officially on behalf of the club."