Serie A news

Galliani denies new investment at Milan

October 19, 2012
By Adam Digby, Italy Correspondent

AC Milan vice-president Adriano Galliani has denied that the club has attracted any new investors in recent months.

Adriano Galliani
GettyImagesAdriano Galliani is encouraged by the progress his side are making

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There had been reports over the summer that Russia President Vladimir Putin was set - via utility company Gazprom - to hand over €180 million for a stake in the Rossoneri, owned by his close friend Silvio Berlusconi.

However, despite insisting that Milan are looking for new investors, Galliani has stated that nobody has yet to come forward.

"President Berlusconi has always said that new investors are welcome and the doors are always open," he told Sky Italia.

"However, I can assure you 100% that right now there are no buyers."

Galliani has also revealed that the club's financial state is in good health once again, putting it down to Milan's partnerships. The big money sales of Zlatan Ibrahimovic and Thiago Silva to Paris Saint-Germain in the summer have also helped.

"Our books are basically balanced and at least that'll give us the financial Scudetto," he said. "This is down to partnerships, as fortunately the Milan brand is in a great position and every year we grow in the commercial sector."

Milan have had a torrid start to the season, currently sitting 11th in Serie A, with just two wins from seven games.

Yet Galliani has found comfort in the club's financial state to soften the blow of their performances on the pitch.

"Clearly it's good to win, but some brands survive regardless of each weekend's results," he said.

"Don't forget Real Madrid remained the top football brand despite not winning the European Cup for 32 years."