AC Milan president Silvio Berlusconi has resigned from his position with immediate effect, the club announced on Thursday.
According to Italian law, the 71-year-old has to leave to avoid a conflict of interests when he begins his third stint as the country's prime minister.
Berlusconi, who is not required to sell the Serie A club, made the announcement in a short letter which was posted on the Rossoneri's official website.
It is expected that current vice-president Adriano Galliani will take over the reins from Berlusconi.