Friday 24 October 2014 11:06, UK
The Massimo Moratti era at Inter Milan is officially over, with the former president having decided to step down from the club's board.
The 69-year-old Moratti, who bought Inter in 1995, served as president for almost two decades before selling the majority holding to Indonesian businessman Thohir 11 months ago.
A statement fron Internazionale Holding Srl said: "Massimo Moratti and his children Angelomario Moratti and Giovanni Moratti that own 29.5 per cent of the shares of Inter Milan announce that each of them have presented their resignations from their roles as board advisors of Inter Milan.
"Internazionale Holding Srl also announces that Massimo Moratti has turned down the position of honorary president of Inter, a position kindly offered by Mr. Erick Thohir in November."
Moratti, whose father Angelo owned Inter from 1955 to 1968, has not revealed the reasons behind his move.
"There is nothing for me to explain now," Moratti said to Sky Italia. "You will understand my decision in the coming days."
Local media reports claim Moratti's move is due to a difference in opinion with Thohir regarding Inter coach Walter Mazzarri.
Mazzarri, who was appointed prior to Thohir's takeover, was warned last weekend by Moratti that his job would be at risk if Inter's results did not improve.
Unlike Moratti, Thohir has backed Mazzarri despite the team's poor start to the season.
Inter are ninth in the Serie A, with just two wins from seven games.
Thohir spoke of Moratti's decision after Inter's goalless draw against St. Etienne in the Europa League, their third game without a win.
"I respect Mr Moratti's decision," he said in a club statement. "I met him and we had a discussion.
"The relations between the two families won't change.
"He wants to support me and I think the media can ask him.
"At the same time, as the president I think I have to review some of the operations at the club."
During Massimo Moratti's reign, Inter won the league title five times, lifted the Champions League trophy in 2010 and clinched the club's third UEFA Cup crown in 1998.
