Parma have renewed their co-ownership deal with AC Milan for striker Alberto Paloschi.

There were reports the Rossoneri would recall him to then send the teenager to Cagliari as part of their deal to release Coach Massimiliano Allegri.

"We have reached an agreement, which was the most logical outcome to this situation," explained Parma director general Pietro Leonardi.

"We have renewed our co-ownership deal with Milan for Paloschi."