AC Milan president Silvio Berlusconi has ruled out selling up.

Milan's city rivals Inter Milan are in talks with Indonesian businessman Erick Thohir over possible investment and a takeover.

Berlusconi said: "There are needs that manifest themselves because football for those who want to be competitive needs a lot of money, now there is a new rule that was imposed in Europe for which teams must have budgets that commensurate with their income, so this possibility is to let in some new share holders or sell the entire share capital, I do not find anything wrong with that.

"Regarding Milan there is not this possibility, because for me and my family we are always Milanese, Milan is a matter of the heart and Milan would be the last company I would sell."