- Arsenal CEO Ivan Gazidis has left for Italian club AC Milan
- The 54-year-old will reportedly earn a £1million pay rise
- Gazidis played a major role in Unai Emery's arrival at the Emirates
CEO of Arsenal Ivan Gazidis has resigned to take up a new role with Serie A side AC Milan.
Raul Sanllehi and Vinai Venkatesham will take over the position at the Emirates following Gazidis departure.
The 54-year-old will reportedly earn a £1million pay rise at the San Siro as the South African takes up the same role with the Italian giants.
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Gazidis is close to his tenth year at the Emirates and has impressed the hierarchy at the Rossoneri.
Milan were on the verge of a takeover by American hedge fund Elliott management over the summer.
The news of a new investor at the club has brought significant spending during the summer as the San Siro outfit will be challenging for the Scudetto this season.
Gazidis was convinced with Unai Emery's proposal to join Arsenal following the departure of Arsene Wenger after 22-years in charge.
Milan were initially banned from European competition by UEFA in June for infringing Financial Fair Play rules.
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But the Court of Arbitration for Sport (CAS) overturned the ruling in July, with Genaro Gattuso's side subsequently being drawn to play Olympiakos, Real Betis and Dudelange in the Europa League.
Meanwhile, NAIJ.com had earlier reported Arsenal's CEO Ivan Gazidis has confirmed the appointment of former PSG coach Unai Emery as their new manager.
The 46-year-old Emery, previously spent three seasons with Sevilla, leading them to an unprecedented three consecutive Europa League titles, establishing the club as a major force in the Spanish league.
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Source: Naija.ng
