21 August at 16:15 Elliott continue their corporate restructuring of AC Milan, having already replaced the board members and appointed Scaroni as interim CEO. Furthermore, the American hedge fund is working on bringing in Arsenal's Ivan Gazidis, who would take the role as CEO. In fact, the 53-year-old could decide to leave the Gunners due to two reasons. Now that Arsene Wenger has left, there's always the risk of Gazidis being used as a scapegoat, should this not go well this season. In addition to this, Milan have offered him a huge pay rise; a total of £1m more than his current salary (£2.6m). This would see him earn €4m with the Rossoneri, Milan, though, are not willing to wait for long, According to the report, Elliott have issued an ultimatum to Gazidis, who has to make up his mind by early September.
Arsenal FC's CEO Ivan Gazidis has reportedly been handed an ultimatum by Italian side AC Milan over the prospect of joining the Italian side in an executive role. Reports say Gazidis has been offered an annual salary of €4m ($4.7m) to join Milan, more than the £ 2m (£1.3m) he earns each year with Arsenal. The club, however, wants Gazidis to come to a decision by early September.