Milan's shareholders assembly has approved the financial statements as of 30 June 2020, reporting a loss of € 195m, and a new board of directors whereas Franco Baresi has been named honorary vice-president of the club.
"We held the meeting regularly, all connected with about sixty shareholders,” said the Rossoneri President Paolo Scaroni.
“Everything was approved unanimously, both the budget and the appointment of the board. As for the Board of Directors, we brought in Board Massimo Ferrari, which is also part of the association of small shareholders.
“I was confirmed as chairman of the board for the next three years, with unanimous decision".
Milan’s new board of directors include: Paolo Scaroni, Ivan Gazidis, Stefano Cocirio, Giorgio Furlani, Marco Patuano, Salvatore Cerchione, Gianluca D’Avanzo, Alfredo Craca and Massimo Ferrari.
The Rossoneri legend Franco Baresi was named honorary vice-president of the club.