AC Milan deny Galliani wrongdoing amid reports of tax fraud probe in Italy

Allegations made against the club's chief executive on Tuesday have been labelled as "absolutely marginal and not founded"

AC Milan have issued a statement denying any wrongdoing by their chief executive Adriano Galliani after he was approached by the Naples public prosecutor as part of an investigation into alleged tax evasion in Italian football.

According to widespread reports in the Italian press on Tuesday, Galliani was one of 64 individual suspects spanning 35 clubs from Serie A and Serie B to fall under an investigation named 'Fuorigioco' – which translates into English as 'offside' – being conducted by the Naples public prosecutor.

In a statement released to their official website, Milan said the claims made against Galliani are "absolutely marginal and not founded".

The statement read: "Today [Tuesday], the public prosecutor of Naples decided to give Adriano Galliani a termination notice relating to the investigation for a series of events that are absolutely marginal and not founded, and which will come to a resolution, in terms of both tax and criminal law, with a due dismissal."

Italian newspapers Gazzetta dello Sport and Corriere dello Sport both reported that Milan's headquarters were raided by Italian financial authorities as part of the probe on Tuesday morning.