Milan have officially reached an agreement with former CEO Marco Fassone after he had sued for unfair dismissal. “I wanted to clarify my actions were always fair and transparent.”
The CEO was brought in along with director of sport Massimiliano Mirabelli during the Yonghong Li era, which culminated in the Chinese owner defaulting on loan payments.
The club was then effectively repossessed by US hedge fund Elliott Management, who sacked Mirabelli and Fassone.
Today, the legal action Fassone had begun against Milan was formally abandoned after they reached a settlement, as confirmed by a statement on the club website.
They instead terminated the contract by mutual consent and Fassone abandoned his attempts to sue for €30m.
“I am extremely happy,” Fassone told news agency Ansa.
“I leave behind a situation that profoundly hurt me and hope now to go back to looking towards the future in a calm way. We reached a satisfactory conclusion for all concerned.
“The most important thing for me was to clarify my actions were always fair and transparent, in the interests of the club. Having made that clear, I now wish Milan and in my particular my successor Ivan Gazidis a swift return to sporting and economic success.”
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