Club owner Silvio Berlusconi has revealed that AC Milan turned down an offer of nearly €46m (£36.35m) from Paris St-Germain for Thiago Silva.
Milan vice-president Adriano Galliani has been in talks with PSG executives over the possible sale of the player, however Berlusconi has now revealed that a major offer has been rejected, with the club eager to keep hold of the young star.
"We have not changed our mind," he told SportItalia. "We had no intention of selling the player but we had received an extraordinary offer from PSG.
"We have always been clear and PSG should not feel let down. We told them from the start that we would take a decision once we had looked at the offer and seen what is out there in the market in terms of finding a possible replacement.
"They made us a very interesting offer, close to €46m. We considered the possibility [to sell] and we looked at the central defenders that would replace Thiago Silva but we haven't found an adequate player. The old heart of Silvio Berlusconi has allowed us to reject this offer."