Monaco rubbish reports Rybolovlev will sell club and buy AC Milan

Monaco insist there is no truth to media reports that club president Dmitry Rybolovlev wants to sell the club and launch a takeover bid for AC Milan.

It has been claimed in Italy that the Russian billionaire, who became majority shareholder of Monaco in 2011, is considering trying to buy Milan from Yonghong Li.

However, the Ligue 1 champions say Rybolovlev is passionate about Monaco's future and has no plans to sell his stake in the Stade Louis II club.

"Following rumours 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," a statement released on Friday said. 

"The president Dmitry Rybolovlev is happy to develop the Monegasque project since seven years [sic]. 

"AS Monaco points out that the club was last in Ligue 2 in 2011 and today is the champion of France. 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 rumours. 

"The entire club is turned today towards the finale of the Coupe de la Ligue and the fight for the qualification in [the] Champions League."

Rossoneri Sport Investment Lux, a consortium headed by Li, bought 99.9 per cent of Milan last April for €370m but there has been mounting uncertainty about their future ownership.

Milan have spent in the region of €200m in transfer fees since last April as part of a drastic rebuilding of the squad, but they sit five points adrift of the Champions League places with 10 Serie A games left this season.