Arsenal chief executive leaves for Milan

Official aims to restore Italian club to ‘rightful place in football’

Arsenal Chief Executive Ivan Gazidis will leave the Premier League team to join Italy’s AC Milan in the latest move in a year of change at the English club.

Gazidis will start work as AC Milan chief executive on December 1 after almost a decade at Arsenal, which is restructuring off the field following the departure of team manger Arsene Wenger who had been at the club since 1996.

Vinai Venkatesham, currently Arsenal’s chief commercial officer, will become managing director while current head of soccer relations Raul Sanllehi will have the title of head of soccer.

The departure of Gazidis comes a month after American billionaire Stan Kroenke took full control of Arsenal by buying out Russian rival Alisher Usmanov, valuing the Premier League club at around $2.3 billion.

“Arsenal is entering a new chapter and I have done everything I can to ensure that it is strongly placed to take on that challenge,” Gazidis said in a statement, adding that many would say it was a “strange time” for him to leave.

Arsenal and AC Milan will both compete in this year’s Europa League, with both teams failing to qualify for the more lucrative Champions League in recent seasons.

Gazidis said he would be “working to restore [Milan] to its rightful place in football.”

AC Milan, seven-time European champions, have also seen upheaval this year.

Elliott Investments took control of the club in July after Li Yonghong, who last year had bought AC Milan from former Italian prime minister Silvio Berlusconi, failed to make a repayment that was due to the US fund.

Several English newspapers had reported in recent days that Gazidis was in advanced negotiations to move to Milan. He will leave the London club with effect from October 31.

Arsenal currently sit seventh in the English Premier League after a pair of early defeats under new manager Unai Emery, who joined in the summer from French champions Paris St-Germain.

As well as the appointment of Emery, Gazidis oversaw high-profile signings of players including German World Cup winner Mesut Ozil. However, many fans voiced discontent with the running of the club in Wenger’s final years, believing financial stability was being prioritized over success on the pitch.