AC Milan's former owner Silvio Berlusconi is not under investigation by the authorities for his part in the club's sale to Yonghong Li - which had been subject to claims of money-laundering.
Italy's most successful club was sold by former Italian prime minister, Berlusconi, in April 2017 after several months of delays for €720m, which was reportedly €300m more than what the club was said to be worth.
The club was deep in debt and the time it took to thrash out the deal and the final figure had Italian outlets La Stampa and Secolo XIX, via Football Italia, claiming that investigations had been opened into potential money-laundering from Berlusconi, his Fininvest group and Yonghong Li.
The speculation of money-laundering was initiated when suggestions were made that Berlusconi overvalued the club in a deliberate attempt to bring a large sum of money into the country from abroad.
However, on Saturday the chief prosecutor of the city of Milan, Francesco Greco disclosed that all reports suggesting an investigation had opened were wide of the mark.
He said: “There are no criminal proceedings as of today regarding the sale of AC Milan."
The Chinese consortium bought out the seven-time European champions from Berlusconi, who spent more than 30-years at the helm and oversaw the club win an astonishing 29 trophies and five European Cups.
The new owners splashed the cash throughout the summer with a host of signings which aimed to take the club back to the top of the Serie A pecking order, yet the club currently languish in 11th place - 23 points behind leaders Napoli.