Milan manager Vincenzo Montella has signed a new two-year contract as Villarreal defender Mateo Musacchio became the first Rossoneri signing under their new Chinese owners.

Milan could overhaul their squad this summer after finishing sixth in Serie A, with Rossoneri Sport Investment Lux expected to invest heavily after buying out Silvio Berlusconi.

However, there will be no change of leadership with Montella - who took over 12 months ago - handed a fresh deal to run until 2019.

A statement on the club’s official website read: “After a positive season managing a great group, the club and Vincenzo Montella are ready to continue working together, renewing the contract of the manager.”

Meanwhile, 26-year-old Argentina international Musacchio has signed a four-year deal at the San Siro.

A Milan statement said: “AC Milan announce that they have acquired the sporting rights from Villarreal CF to Mateo Musacchio, who has signed a contract until 30 June 2021.”

Musacchio joined Villarreal from River Plate in 2009 and scored seven goals in 187 La Liga appearances, captaining the Yellow Submarine last season.

Musacchio could soon be joined at the San Siro by Atalanta’s Ivorian midfielder Franck Kessie, who was understood to be undergoing a medical yesterday.

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