The holding company of AC Milan, Fininvest, have denied that they are considering the possibility of relinquishing shares in the football club in order to raise funds.
Earlier on Wednesday, reports emerged that the Serie A giants could potentially be hit with a heavy financial restraint after owner Silvio Berlusconi was given a nine-digit fine after losing a long-winded court battle in the Lodo Mondadori saga.
Following a decade-long dispute, Berlusconi's holding company Fininvest, which also controls the Milanese club, had been slapped with an astronomical €560 million ($794 million) fine by Italian courts, according to Gazzetta dello Sport.
However, the idea of selling part of the club to an Arab consortium, or floating it on the Hong Kong Stock Exchange has been ruled out, in a statement released to ANSA.
"We can categorically confirm that these fanciful hypotheses and scenarios (of selling the club) are totally unfounded," Fininvest told the news agency.
Milan were crowned Serie A champions last season, for the first time in seven years.