AC Milan announced today that Ivan Gazidis has accepted its offer to join the club as its Chief Executive Officer (“CEO”). Mr. Gazidis will officially begin his CEO duties on December 1, 2018.
In hiring Mr. Gazidis as CEO, AC Milan brings on board a world-class football executive with a track record of sporting and commercial success across the globe. After playing a key role in founding Major League Soccer in the United States, in 2009 Mr. Gazidis went on to become Chief Executive Officer of the UK Premier League football club Arsenal. Under Mr. Gazidis’s leadership, London-based Arsenal football club enjoyed both on-field success and off-field prosperity. Arsenal won three FA cups during his tenure and reached the UEFA Champions’ League eight years in a row. Mr. Gazidis spearheaded exemplary growth initiatives, building Arsenal into a profitable publically traded company, with annual turnover having doubled to in excess of £400 million today and a staff of over 600 employees. The club’s global following now exceeds 85 million across its digital platforms. Mr. Gazidis also serves on the European Club Association Executive Board, the ECA Institutional Relations Working Group (Chair), the ECA Statutory Affairs Panel (Chair), Professional Game Board (Chair), FIFA Football Stakeholders Committee and the FA Council.
AC Milan’s Executive Chairman Paolo Scaroni will hand over all chief executive duties to Mr. Gazidis on December 1. On that date, Mr. Gazidis will formally become AC Milan’s CEO, responsible for leading the club’s day-to-day football, business and commercial operations.
Paolo Scaroni, Executive Chairman of AC Milan stated, “On behalf of the Board and the entire AC Milan community, we proudly welcome Ivan Gazidis to the club. The CEO role is one we have prioritised from day one of this project and one we have worked diligently upon to get right. Ivan Gazidis will bring an unparalleled level of business acumen and football industry experience to the club. He helped establish professional football in the United States; he brought Arsenal to new heights; and we can’t wait for him to get started here in Milan. The fundamentals are now in place for success, which we recognize will take time, hard work, and perseverance.”
In accepting the CEO role, Ivan Gazidis, said, “I am very excited to take on this new challenge, and will do everything I can to secure AC Milan’s return to the top. I have a head start in this project thanks to the talented players, hard-working staff, and the sporting leadership of Leonardo De Araujo, Paolo Maldini and Gennaro Gattuso. I am grateful for the trust placed in me by Chairman Paolo Scaroni, the AC Milan board, and the club’s owners.”
Paul Singer, Founder, Co-CEO and Co-CIO of Elliott Management Corporation said, “In the past few months, Chairman Paolo Scaroni, a refreshed Board and a reinvigorated management team, have all instilled a new sense of purpose to AC Milan. Today’s announcement provides the latest example of a club heading in the right direction. Ivan Gazidis is a widely respected, highly talented chief executive, and one we expect can lead the club to realise its full potential. Together with Elliott’s continued focus on financial stability and proper oversight, we look forward to on-field success and a world-class fan experience.”
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