Silvio Berlusconi Resigns from Milan President Duties © EuroFootball.com

Following the new Italian law prohibiting the Prime Minister of the country from holding other leadership positions in private companies or clubs, current Italian Prime Minister Silvio Berlusconi resigned from his position as club president.

"It's very difficult for me," says Berlusconi, who has been leading the San Siro club for 18 years. "However, during those 18 years, the Milan club has won more trophies than any other club in the world. I can only be proud of the work I have done."

Berlusconi acquired the Milan team in 1986. At that time, the club was in crisis, but Berlusconi, along with the relatively unknown coach Arrigo Sacchi at the time, assembled one of the most successful teams in the history of Italian football. The team won 22 trophies: seven Serie A titles, four UEFA Champions League trophies, two Intercontinental Cups, one Coppa Italia, four UEFA Super Cups, and four Supercoppa Italiana titles.

It is still unclear who will become the new club president.