The Berlusconi family will never sell AC Milan, Barbara Berlusconi, club director and daughter of owner Silvio, was quoted as saying on Friday.
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"My father has taught us all something: that AC Milan has a place in our hearts," Barbara Berlusconi said in Gazzetta dello Sport.
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"The Berlusconi family will never sell the club. Creating partnerships for investment in order to grow is one thing, but selling the club is another. And it won't happen."
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There was speculation last year that Milan were considering selling a stake to the Qatari sovereign wealth fund, but vice-president Adriano Galliani denied the reports.
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Milan have enjoyed an encouraging season and, after a poor start, are now third in the Serie A standings and unbeaten in 12 league games.
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They face a crunch match against second-place Napoli on Sunday (1845 GMT), knowing victory would put them one point behind Walter Mazzarri's side with six games to play.
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Having sold Zlatan Ibrahimovic and Thiago Silva to big-spending Paris St Germain in the close season, they have massively cut costs in an effort to balance the budget.
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Berlusconi says the club has reduced labour costs to 50 percent of turnover.
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"That isn't only due to the sale of Thiago Silva and Ibrahimovic however... This is a club capable of financing itself," she added.
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"(However) It's wrong to speak of a balanced budget as though it were the number one priority. Football is based on sporting results, and it's that which give us our worldwide appeal.
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"We want to bring the two things together good management and results on the field, and that's what we're doing."
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After investing heavily in Italy international Mario Balotelli in the January transfer window, whose seven goals have helped push Milan up the table,
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Berlusconi reiterated the importance of youth development in their business strategy.
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"It's fundamental. Our idea is to produce top players at home, even if it that doesn't mean we can't buy them. The acquisition of Balotelli shows that," she added.
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"But you can't buy 25 top level players anymore, the fees and wages have become preposterous and Milan as a club doesn't want to risk caving in on itself."
It's good they cleared the air on that now before the world accept the rumour. The buyers must definately back out now