Monaco denies that president intends to sell club, buy AC Milan

Ligue 1 holder AS Monaco released a statement on Friday denying claims that chairman Dmitry Rybolovlev is looking to sell the club, adding that rumours about an intent to purchase AC Milan are also unfounded.

"Following rumors about AS Monaco football club in the Media these last days, AS Monaco affirms that there is no current negotiation on the sale of the club or purchase of AC Milan. The President Dmitry Rybolovlev is happy to develop the Monegasque project since 7 years," the statement on behalf of vice-president and CEO Vadim Vasilyev reads.

Owner of 66.7 percent of the club under a moniker named after his daughter, Rybolovlev's "Ekaterina Rybolovleva Trust" bought the majority stake in Monaco in December 2011 whilst Les Monegasques were in the second tier. Since then, Monaco has won the league and appeared in a domestic cup final while playing host to some of Europe's best young talent.

"The ambition for present and future is intact around young talented players, around modern infrastructures in development but also the ambition to win new trophies. Facts are more important than rumors," the statement continues.

Reports of a link to AC Milan stem from alleged concerns that president and owner Li Yonghong has declared bankruptcy nearly a year after purchasing the Serie A giant for €740 million.