AC Milan appointed their former player and coach Leonardo as their new sporting director on Wednesday.
The club made the announcement a day after dismissing Massimiliano Mirabelli, with the club undergoing drastic changes since Elliott Management took over earlier this month after former owner Li Yonghong missed a deadline to repay part of a loan.
Leonardo, who won the World Cup with Brazil in 1994, joined Milan in 1997 and spent five seasons as a Rossoneri player, winning Serie A and the Italian Cup. He returned as coach in 2009 for one season.
The 48-year-old Leonardo was also sporting director at Paris Saint-Germain from 2010-13.
"The return of Leonardo ... is another step forward on our path to success," Milan chairman Paolo Scaroni said.
U.S.-based hedge fund Elliott Management has promised to swiftly inject €50 million in capital.
"Leonardo's appointment is another sign of Elliott's commitment to bring in world-class and experienced leaders, who know what it takes to restore AC Milan to greatness," Scaroni added.