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The AC Milan director of sports has moved to refute reports of the Rossonerri president leaving, after having listed the club on the stock exchange

AC Milan sporting director Umberto Gandini has dismissed rumours that suggest club president Silvio Berlusconi is poised to leave the club.

The Italian side, who find themselves in a precarious financial situation, recently made a portion of its shares available to foreign investors in an attempt to boost incomes.

The move sees Berlusconi lose a share of his internal power, but Gandini does not think the former Italian Prime Minister will withdraw his presidency.

"I do not have permission to use a crystal ball, so I cannot say anything," he said at a meeting.

"But I do not think Berlusconi will leave. The rest of Europe is going through a major [economic] crisis so even the shareholders are feeling [the ramifications].

"I think Berlusconi is one of the best presidents around and I'm pretty sure that he, his family, and the company will continue to support AC Milan."

The 2011 Scudetto winners currently sit 11th in the Serie A standings, and will travel to Lazio on October 20.

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