AC Milan president Silvio Berlusconi has said that the sale of the club has not yet been agreed and revealed that he may end up keeping overall control.

Thai businessman Bee Taechaubol has been widely reported to be on the verge of launching a takeover bid and met Berlusconi at a Milan hotel to discuss the deal this weekend, but no agreement has yet been reached.

"My main concern is to give Milan fans the guarantee that the new season will ensure a future that matches the heights of the glorious past," Berlusconi is quoted as saying by Reuters.

"[Taechaubol] is a serious person whom I respect. Everything is under discussion, because there's still the possibility that I will keep 51 percent."

On the field, Milan have endured a miserable season and sit 10th in Serie A with five games of the season remaining.