Former Milan CEO Marco Fassone insists Yonghong Li “underestimated the task of repaying the loan, but the final balance was ultimately positive.”

Fassone was placed in charge when Chinese businessman Yonghong Li purchased the club from Silvio Berlusconi for €740m, ending a 30-year reign, and continued to reassure fans that there were no financial problems.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

Milan have officially withdrawn from next season’s Europa League after reaching an agreement with UEFA over Financial Fair Play.

A Court of Arbitration for Sport (CAS) statement reads: “The Court of Arbitration for Sport (CAS) has issued a Consent Award embodying the agreement reached between AC Milan S.p.A and the Union of European Football Associations (UEFA) concerning breaches of the UEFA Financial Fair Play Regulations by the Italian club.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

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.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

Silvio Berlusconi has blamed not Yonghong Li, but Marco Fassone and Massimiliano Mirabelli for Milan’s failure. “I thought he’d hire real professionals.”

The brief spell under the Chinese businessman was disastrous, because he failed to keep up with loan repayments and the club was effectively repossessed by US hedge fund Elliott Management.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

New Fiorentina owner Rocco Commisso is “the sort of guy who likes to underpromise and overdeliver,” but pledges they won’t go the way of Yonghong Li at Milan.

The Italian-American billionaire who made his fortune in cable purchased the club from the Della Valle brothers and confirmed he’ll keep Coach Vincenzo Montella in the job.

He spoke to ESPN and was very eager to differentiate himself from overseas Serie A investors like James Pallotta, Joey Saputo, Suning Group or Elliott Management.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

The Corriere dello Sport analysed Milan’s finances and warned they’ll reach June 30 running at a €100m loss for this year alone, €413m over five years.

As the Rossoneri await the verdict of their appeal against the Financial Fair Play penalties, with another UEFA case ready to go for even more violations, the situation remains extremely unstable.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

Rocco Commisso is reported to be the new Fiorentina owner in a $150m deal, a man who calls himself “the fulfilment of the American dream” and a Juventus fan.

According to the New York Times, the takeover from Andrea and Diego Della Valle has been agreed and could be announced as early as Monday.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

Former Milan CEO Adriano Galliani maintains the club has “come back into the hands of Milanisti,” which was not the case under Yonghong Li.

Silvio Berlusconi controlled the club for 31 years with Galliani as his right-hand man, but sold it to Chinese investor Yonghong Li in April 2017.

When he defaulted on a loan used to buy the club, it was essentially repossessed by US hedge fund Elliott Management.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/

Former Milan director Massimiliano Mirabelli feels vindicated in picking Gennaro Gattuso and reveals failed negotiations for Lazio stars Ciro Immobile and Sergej Milinkovic-Savic.

The ex-director of sport is the man who pushed hard for Gattuso to be promoted from the Primavera youth team job in November 2017 when Vincenzo Montella was sacked.

“I am convinced this young Milan will go far over the next few years,” Mirabelli told RMC Sport radio.

Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/