Milan lost 1-0 to Bologna on Wednesday and are now in danger of missing out on European qualificatio altogether.
Cassano said on Viva el Futbol: "Today Bologna proved to be a top-level team in Italy. Milan, from mid-table, is what they are showing me. But history is the other way around. Those who represent Milan, not those who work there, because they don't even work.
"The Furlanis, the Cardinales, are incompetent, they have to get the f*** out of the way, they have to go away, because Milan is not a joke, Milan is a serious thing. They have turned Milan, which tonight we are talking about a mid-table team... into (today's) Milan! Milan is serious stuff, because tonight Bologna proved it."
On the Coppa winners, Cassano said: "Bologna is top. They are playing for the Champions Cup, they won a tournament with 4 players less. With a coach who came with the sword of Damocles hanging over his head, Thiago Motta had arrived fourth, this one even did better in performances, in individuals.
"With a less strong team he made it stronger, he won a trophy. What are we talking about? A top coach, improved players, top corporate organisation. A small Atalanta is being born."