At the end of a board meeting at Casa Milan, on an important day after UEFA’s “no” to the settlement agreement, Marco Fassone spoke at a press conference to address questions.

“This was a routine board meeting, the goal was to approve the quarterly [budget], which became mandatory for entry to the 2018/19 Serie A season. We have approved it and it is a good and positive quarterly,” Fassone began.

On the capital increase: “The total capital increase is around 40 million; 10 more on top of the 30 already collected.”

On UEFA’s choice: “It’s a complex decision, issues that are mainly linked to the future scenario of the company, of potential insecurity, and UEFA has preferred not to grant us the settlement agreement and postpone the decisions.”

On the reactions of Chinese ownership: “Disappointment, regret – ownership has always been present, we expected a settlement, this decision not to grant means the ownership is displeased.”

On refinancing: “The most complicated refinancing part is that of the holding company, the information I have is such that it should not be expected to accelerate very quickly, but as regards the refinancing of the debt with Elliott, it is a simpler thing.”

On the market: “Taking the worst scenario, with Milan getting excluded from the cups, there will be a decrease in turnover that I should take into account on expenses.”

On what to do: “We will discuss new topics that we have not yet discussed.”

On the new signings: “I tried to be transparent and clear with the fans, and beyond the participation in the Europa League, they will come in. We don’t think about bringing in 10-11 players again, instead 2 or 3, then we can pay them 20 less or 20 more, let’s see.”

On the statements: “I hope as a club to have given the clearest possible messages of absolute transparency.”

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