AC Milan supremo Silvio Berlusconi insists he does not regret turning down Manchester City's mega-bid and has assured supporters that the club will also fend off attacks from Real Madrid.

Kakà was at the centre of a lengthy transfer saga until the start of this week, with English club Manchester City reportedly offering a whopping €120 million to capture Brazilian ace.

But the 26-year-old ultimately opted to remain in Lombardy. Diavoli President and Italian Prime Minister Silvio Berlusconi personally gave the announcement on a live TV show.

“Keeping hold of him was like winning another Champions League,” the media mogul told QN. “I am happy and proud of Milan, because I truly feel that we are the only side in the world where something like this could happen."

New City owner Sheikh Mansour bin Zayed Al Nahyan is eager to throw his financial weight around to help the club rival the best teams in the world, however, he is still smarting from Kakà’s choice to reject his big-money offer.

“The Sheikh is doing a great job in order to build a competitive side that can play a major role both in the Premier League and on the European stage,” maintained Berlusconi.

“He will certainly turn Man City into a big European force over the next few years and I wish him good luck, because he deserves it.

“But he knows full well that I’m in charge of Milan. We gave Kakà carte blanche to decide, but I am happy at his decision. I feel the Sheikh would have done the same thing.”

Spanish champions Real Madrid are apparently ready to launch a new assault on Kakà next summer, however, Berlusconi believes it will be to no avail.

“Ricardo and Milan have already rebuffed the Spaniards once, and I don’t see why we should change our stance," he declared. "Kakà has given a clear proof of his bond with us and will not seek a wage increase,” he concluded.