Berlusconi not to sell AC Milan

Milan: AC Milan president Silvio Berlusconi Thursday dismissed the speculations that he could sell the Rossoneri, Xinhua reported.

Earlier, media reports claimed that Singapore-based businessman Peter Lim is preparing to table an offer of 500 million euro to buy the Serie A club from the Berlusconi family. "Milan will not be sold, and its worth is more than 500 million euro," said Berlusconi. "Let us not joke about something sacred," he replied to a question asking if the club is worth 501 million euro. His daughter Barbara, joint-CEO of AC Milan, said 500 million euro could only cover about half of the club`s assets. However, this does not rule out the possibility of Lim investing in Milan and buying up a large number of shares for 350 million euro.