A number of media in Italy recently launch speculation about Silvio Berlusconi intends to sell his club, AC Milan. Berlusconi’s side had dismissed the news.

It is said that Berlusconi that owned Milan through a holding company named Fininvest, intends to release ownership of the Rossoneri to Libyan investors.

“There is no plan to sell AC Milan shares,” Fininvest statement rejected speculation as quoted by Reuters.

Speculation was started by La Repubblica newspaper that said Berlusconi, is also known as Prime Minister of Italy, discussing about Milan when he met the Libyan leader Moammar Khaddafi in Tripoli this week.

According to Repubblica, Berlusconi (who has owned Milan since 1986) is ready to transfer ownership of the ‘Black Red’ at the price 600-800 million euros (USD 8,6-11,5 trillion).