Rolando 2016

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The holding company of AC Milan on Tuesday denied reports that Russian gas producer Gazprom was negotiating the acquisition of 30 per cent of the Serie A club at a time of crisis for the club's ownership.

Speculations that the state-controlled gas provider were interested in the club owned by Italy's Prime Minister Silvio Berlusconi already circulated last weekend and were reported earlier Tuesday by the La Gazzetta dello Sport paper.

But both Fininvest, a media conglomerate controlling Milan, and a Gazprom spokesman denied them, according to the ANSA news agency.

Berlusconi bought the Devils 24 years ago, leading them to win seven Serie A scudetti and five of their seven European titles.

A rather dismal season closed this month in third position, however, triggered sharp criticism of Berlusconi from fans who accused him of not investing enough money in the club.

It appears that Marina Berlusconi, president of Fininvest and daughter of the prime minister, has long been keen on giving up Milan.

She is believed to have been behind last year's sale of Brazil star Kaka to Real Madrid for 65 million euros (80 million dollars) and of the promising Frenchman Yoann Gourcuff to Bordeaux a year earlier.

Cash appears to be no issue for Gazprom as they provide Europe with 30 per cent of the continent's need for natural gas.

Under a reported deal, the company should invest up to 180 million euros in the club worth an estimated 600 millions.

The fact that Gazprom are state-controlled allegedly made negotiations easier with Berlusconi, who has often claimed a good relationship with Russian Prime Minister Vladimir Putin.

Since 2005, Gazprom hold a controlling stake in Zenit Saint Petersburg, who won the Russian Premier League in 2007 and the 2008 UEFA Cup. They are also sponsors of Germany's Schalke 04.