AC Milan president Silvio Berlusconi insists there is no reason for panic, despite the clearout this summer.

The likes of Alessandro Nesta, Gennaro Gattuso, Clarence Seedorf and Pippo Inzaghi all left at the end of their contracts.

Milan then sold Thiago Silva and Zlatan Ibrahimovic to Paris Saint-Germain for around €65m.

"We've waved goodbye to 11 players, of which I include Andrea Pirlo, for financial reasons," Berlusconi said. "It was painful but necessary.

"It was impossible for us to reject Paris Saint-Germain's offer for Ibrahimovic and Thiago Silva. It has saved us a lot of money in transfers and wages, meaning our finances are secure for the next three or four years.

"We didn't intend to sell and said no at the start, but Leonardo insisted. We then thought about the Financial Fair Play. We had to accept with our weeping hearts.

"I'm convinced that we won't miss Ibra in attack. At the back we have a new signing in Francesco Acerbi who we believe in and the market is still open. We only need to strengthen in defence."