Profile: Ivan Gazidis and Milan’s “long and challenging path” to sustainability

29 October 2020

Gazidis
Photo: PA Images "Ivan Gazidis will bring to Milan an extraordinary contribution of expertise and experience in the football industry. We now have the fundamental elements to return to success, for which we know it takes time, commitment and perseverance." Those were the words when AC Milan announced that they had captured Ivan Gazidis to be their new CEO two years ago. On Wednesday AC Milan revealed a new major financial loss - but behind the scenes the former Arsenal director is working hard to change things at the club.

After years of stagnation Milan are early Serie A leaders but remain a financial basket case.

CEO Ivan Gazidis has enacted structural changes that will reap long term benefits, but could not stop the fourth highest ever club financial loss - €195 million.

“Doomsday Investor” Elliott Management has ploughed €707 million into the club since 2018.

Can Gazidis save Milan?

James Corbett corbett@offthepitch.com

It is September 2018 and the future looks unprepossessing for AC Milan, far worse, it must be said, than the pandemic impacted date two years later when they will announce the second worst financial result in football history. Not just Milan’s history: the entire history of the game.

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