AC Milan chief Adriano Galliani has defended president Silvio Berlusconi over his lack of investment.

Milan held their shareholders' meeting yesterday.

"Our owners, Finivest, have invested an enormous amount of money in the club taking the club to incredible results," said Galliani.

"If ever the club were sold, which is not at all certain, the Silvio Berlusconi era will remain the most successful era ever of this club.

"It is Finivest that has decided not to integrate the balance sheet of Milan with that of Finivest. The number that comes out is €91m, which is certainly more than €46m and I am disappointed about that, but Finivest have already covered the loss in March 2015."