Reports that Nicola Cortese handed in his resignation as Saints chairman this morning are false, the Daily Echo has learned.

His position has been the subject of intense speculation since news broke yesterday linking him with a role at Italian giants AC Milan.

Sky Sports News reported this lunchtime that the chairman had handed in his resignation, however sources at Saints have told the Daily Echo Cortese has not resigned.

This morning, the Daily Echo learned how Cortese's relationship with the Liebherr estate has broken down 'irretreivably'.

In the summer Cortese threatened to leave the club in a dispute with the Liebherrs and was previously linked with a move to Italy in January 2010.

  • This article was updated at 12.36pm the reflect the confirmation that the reports of the resignation were false.

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