AC Milan organising director Umberto Gandini has dismissed suggestions that the Italian club is for sale.

Recent reports in the Italian media have stated that the Rossoneri are open to bids from foreign owners because of their difficult financial situation.

"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."

Milan are owned by the former Italian prime minister Silvio Berlusconi.