Milan CEO Ivan Gazidis is expected to leave the club when his contract expires at the end of the year, claims Sky Sport Italia.
The former Arsenal director took part in today’s shareholders’ meeting, where President Paolo Scaroni refused to rule out his exit at the end of the year.
“We leave Ivan’s decision to him. I thank him for what he did for Milan. It’s easy to be a club president when you have a CEO like Gazidis,” said Scaroni.
Sky Sport Italian reports Milan’s shareholders welcomed Gazidis with a ‘long applause’ and that his departure at the end of the season is highly likely.
Gazidis was appointed Milan CEO in December 2018 after nine years in charge of Arsenal.
During his tenure, the Rossoneri won their first Scudetto in 11 years and managed to cut costs, announcing a loss of just €66.5m for 2021-22.
It may sound like a considerable loss, but Milan have been consistently improving their finances over the last three years.
They confirmed a €194m loss for 2019-20 and €96.4 in 2020-21. The club’s gross revenue raised by 14% in the last financial year.