Black players in AC Milan's Under-10s side were reportedly subjected to racial abuse on Sunday.
They were targeted by "people" in the stands during a tournament in Italy where the youth side of the Serie A team were playing Paris St Germain.
AC Milan have released a statement acknowledging the reports, stating that if true they would be "simply unacceptable".
"There was alleged incidents of racism from certain 'people' in the stands towards Milan's black players," it read.
"We do not wish to magnify the issue, but truly hope that these reports aren't true or that it was simply a sporadic incident.
"If they were to be confirmed, then it would be simply unacceptable."
According to the reports, the black players were booed and heckled by parents on the sidelines.
Football agent Mino Raiola, whose clients include Mario Balotelli and Zlatan Ibrahimovic, labelled those accused as "weak ignorant racists" in a Twitter post.
In shock about today's Milan/PSG in Universal Cup parents booing colour 10 year olds. Heads up boys we'r stronger then weak ignorant racists— Mino Raiola (@MinoRaiola) April 5, 2015
AC Milan won the game 4-0 to reach the semi-finals of the Universal Cup in Forte dei Marmi in Tuscancy before they went on to beat Benfica to reach the final. Chelsea, Ajax, Inter Milan, Roma and Juventus were among the other teams competing.Reuse content