Umberto Gandini has stressed that there is no deal in place to sell AC Milan to foreign owners, following a wave of rumours suggesting the Rossoneri were set for a big-money takeover.
His confirmation follows that of Milan CEO Adriano Galliani, who has also been swift to deny the reports.
Gandini explained that the supposed deal would be impossible due to the restrictions of new Financial Fair Play rulings, but did suggest the club would be open to a level of investment from a third party.
“There is no ongoing negotiation regarding the sale of Milan," Gandini told Radio Sportiva.
“It’s possible that a portion of its shares could be available to foreign investors in an attempt to boost income, but we are not completely sure of the benefits that we could obtain with the Financial Fair Play rules.”
Further stories have linked Milan with a possible move to a new stadium, but Gandini says any decision regarding their future home will also depend on the desires of city rivals Inter.
"We will see what will be Inter's decision, if they want the new stadium or not. We are focused on San Siro, which will remain our home," he added.