Russian energy company Gazprom have denied that they are preparing to invest around £143m in Serie A giants AC Milan.
The news followed on from Inter Milan's announcement of a deal with China's state rail company.
However, a spokesman for the Russian company has now distanced the two parties.
"The story that Gazprom will be sponsors or co-owners of AC Milan does not correspond with reality," said Gazprom spokesman Serghei Kuprianov.
The company own shares and sponsor Zenit St Petersburg, Schalke and Red Star Belgrade.