AC Milan have dismissed speculation that the club is looking for a buyer following a report in a national newspaper on Friday.
La Repubblica claimed that club president Silvio Berlusconi, who is also the Italy Prime Minister, looked into the possibility of finding investors on a trip to Libya.
However, Fininvest, a financial holding company owned by the Berlusconi family and composed of various other entities, such as Milan and Berlusconi's Mediaset company, denied the club president is looking to sell.
"In relation to the latest press indiscretions, Fininvest repeats once again that there is no plan to sell AC Milan," said a company statement.
Italy and Berlusconi in particular are known to have good relations with former colony Libya and its eccentric ruler Colonel Muammar Gaddafi.
However, the idea of being owned by the veteran leader has not received a favourable reception from certain Milan players.
"I hope not," said Andrea Pirlo from Tbilisi in Georgia -- where he was preparing for a World Cup qualifier with Italy -- when asked what he thought about a possible Gaddafi take-over.