July 26 – AC Milan, cleared to play in the Europa League this season having initially been banned, and under new administrative leadership off the field, have brought former player and manager Leonardo back to the club as general manager.
Leonardo, who won 55 caps for Brazil, played for the Italian Serie A side from 1997 to 2001, winning the league title and Coppa Italia. In 2009 he took over from Carlo Ancelotti as manager but lasted just one season.
AC Milan are currently under the ownership control of hedge fund Elliot Management after Li Yonghong defaulted on a €240 million loan used to complete the acquisition of the club in 2017.
AC Milan then fell foul of UEFA’s financial fair play rules and failed to convince the European governing body that they were under sound financial management, banning them from the Europa League. That ruling was overturned at CAS as Elliott Management committed to returning the club to its former glories through sound financial practice.
Leonardo, who takes over from Genaro Gattuso, will help achieve “greater success on the field”, said a club press release.
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