Russian energy company Gazprom have denied that they are preparing to invest around £143m in Serie A giants AC Milan.

Reports had suggested that the Rossoneri would be the subject of investment following owner Silvio Berlusconi's trip to Russia for talks with Vladimir Putin.

The news followed on from Inter Milan's announcement of a deal with China's state rail company.

However, a spokesman for the Russian company has now distanced the two parties.

"The story that Gazprom will be sponsors or co-owners of AC Milan does not correspond with reality," said Gazprom spokesman Serghei Kuprianov.

The company own shares and sponsor Zenit St Petersburg, Schalke and Red Star Belgrade.