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AC Milan boss Gennaro Gattuso has moved to squash rumours of monetary problems at the club, following reports claiming the Italian side are financially strained.

Last month, Forbes reported that Bank of America had been 'tasked with saving AC Milan' due to owner Yonghong Li using debt to buy the club for $828m last year.

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Milan's recent lack of UEFA Champions League football is also believed to be responsible for leaving the club in a poor financial position. Yet Gattuso has spoken out in defence of the Italian side, describing them as a "perfect machine" that still possesses great buying power.

"The rumours regarding the ownership? They don't worry the squad, the wages come on time, at the organisational level this is a perfect machine," Gattuso is quoted as saying by gianlucadimarzio.com

"The money is there, I don't understand this nervousness. 

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"The club isn't missing anything, it is a perfect machine. There are two parameters for when there are financial issues: if the wages don't come and if there is disorganization. 

"Here nothing is missing, the club speaks with the players, if they reach the objectives they talk of prizes with the directors. 

"I'll give you an example: Andre Silva was paid two months in advance, and Porto was surprised because the money for him arrived a month in advance. This makes you understand that the money is there."