MILAN: Inter Milan owner and president Massimo Moratti (pic) admits he no longer sees his club or AC Milan as part of Europe's group of elite teams.

The oil tycoon has watched both sides begin their campaigns this season with disappointing results and thinks these are a sign that the two sides are no longer at that top-tier level on the continent.

"Inter and Milan do not have super-teams any more," said the 67-year-old Moratti.

The Nerazzurri supremo went on to lend support for his young manager Andrea Stramaccioni after their recent 2-0 loss to Siena.

"Yesterday's match was bad. We had to win against Siena, but failed.

"Stramaccioni is competent and we have a lot of good players. Unfortunately, we can no longer allow ourselves to spend €20m on a champion player," he said.

Inter are now seventh in the Serie A table - six points behind Juventus at the top of the table. Milan are in 15th after amassing just three points to date.

- mD