"Keeping him was our primary objective," underlined President Ghirardi. "We wanted to renew his co-ownership and that is what we have achieved.
"I have to thank [Milan Vice-President Adriano] Galliani. He was hesitant over such an outcome at first, but he then gave me the opportunity to complete the deal.
"Milan have great faith in the player and I think they were initially keen to tie up an agreement for his return to their squad."
He added: "We have already surpassed the 4,000 mark in season ticket sales for the new campaign.
"I think the fact that Paloschi is remaining will add more."