Reports from Italy suggest that Ivan Gazidis has been given a deadline of mid-September to accept a job with AC Milan.
The Arsenal chief executive has been linked with the Italian giants for some weeks now following their takeover by a US based hedge fund called Elliot Management.
It’s also being reported in the Mail (no link because it’s the Mail) that Arsenal too have put a deadline on his decision as the club moves towards 100% ownership by Stan Kroenke and KSE, with a general feeling that he will accept the role in Italy.
In the offer document made by KSE last month, Gazidis’ role at Arsenal is outlined within and the scope for his departure and/or termination are made clear:
Mr Gazidis’ current basic salary is £1,767,500 per annum. In addition Mr Gazidis is entitled to receive annual bonuses as determined by the remuneration committee, contributions in equal monthly instalments to a personal pension arrangement (at a rate of £100,000 per annum) and to a private medical health insurance scheme. Mr Gazidis has a company car allowance of £20,000 per annum. Mr Gazidis is also entitled to permanent health insurance and life insurance cover.
The service agreement is terminable by Mr Gazidis giving not less than 12 months’ written notice to AFC PLC. The service agreement is terminable by AFC PLC at any time by giving written notice to Mr Gazidis and by payment of a sum equal to the aggregate of his then current annual basic salary, pension contributions, other benefits and bonus (calculated at 50 per cent. of salary), such sum to be reduced pro rata by any period of notice actually served by Mr Gazidis.
In addition Mr Gazidis may, within the period of three months following the date of a change of control, give written notice to AFC PLC to terminate his employment with immediate effect. In such circumstances, or if Mr Gazidis’ service agreement is terminated by AFC PLC in connection with or as a result of a change of control, or otherwise within three months of a change of control, he is entitled to three times his then gross basic salary and an amount equal to one times his annual pension contribution and bonus within 30 days of termination.
The offer document also states:
KSE has no intention to change the composition of the Arsenal Board as a result of
the Offer.
However, as we reported yesterday, it’s expected that changes will be made in the coming months, including greater involvement for Josh Kroenke, Stan’s son who is already a board member, and a number of departures which may include Chairman Sir Chips Keswick as well as Gazidis and some of the honorary board members.
Quite where the replacements will come from is not 100% clear, but given KSE will have 100% ownership, they’ll be making the appointments and an Arsenal board with a more American flavour would not be any surprise.
Whether there’s room for people who have a connection to, and understanding of Arsenal remains to be seen, but you would have to hope that somebody with a history at the club would at least be considered.
The scope and speed of change at Arsenal right now is almost unprecedented. From boardroom, to manager, to turnover of the playing and backroom staff, we’re a very different club from the one we were 18 months ago, so we’ll have to wait and see how it all pans out.
Let’s get someone better. Our commercial income is a lot less than it should be, let’s find someone that is ambitious there and on the pitch.
Someone better? You’ll be getting Josh Kroenke.
Hate him if you will, at least Gazidis KNOWS the club and has a 10 years of experience working here.
Not to say he’s been any good in his tenure. But just a reminder that it could get worse!
Like was said of Arsene before his departure
Unai Emery won 3 Europa Leagues at Sevilla and just won a domestic treble with PSG. Josh Kroenke has had director level roles at the Denver Nuggets, Colorado Avalanche and Colorado Rapids – all three saw a downturn in results & attendances during his ‘hands on’ time at the franchises.
Fans not being worried about Josh taking over from Ivan would be like fans not being worried if Gary Megson was taking over from Arsene.
You do realize that Arsenal has to win 3 leauge titles, 7 FA Cups, and 20 champions leauge appearances in the next 22 years for us to meet what Wenger accomplished here, right? If you think that’s easy, ask Liverpool how many trophies they’ve won in 22 years
We don’t know the impact of wenger’s departure will have on the club yet. We’re only 3 games in
No the impact is apparent. Attendance is high. Season tickets are sold..etc
Did we win any trophies for increase in attendance and season ticket sales? I must have missed that parade
Maaan! I do dig your – not so – subtle comments. Plus your user name! _/\_
Return of the Obi Wan Wenger?
Yes please! A role he’s suited for. Extremely unlikely of course but we need some Arsenal men in the back room and whose more Arsenal than Arsene?
No thanks !! Under no circumstances.
George Graham is more Arsenal
than Wenger.
Love George, but Arsene Wenger never managed Sp*rs
I couldn’t imagine anything that would undermine the current Manager more. Just think about it ? The press would be full of stories about how Wenger would do X or Y differently and even if they weren’t true, they’d still be forthcoming.
No thanks. Emery has a hard enough task as it is.
Wenger and Emery are highly paid professionals, both dedicated to the club. There wouldn’t be any problems of that kind, despite what others would try to stir up. It simply won’t happen, but I think Wenger would be an interesting replacement for Gazidis as, like it or not, he’s a legend with a lot of connections in the football world, his popularity and legend-status would be attractive to companies and brands looking to invest, and he does have a degree in economics. It won’t happen, but if CEO’s are largely just figureheads, his head figures perfectly for Arsenal F.C.
This offer would not be known if Arsenal was a private company.
The salary borders on perversly high, but maybe Milan will offer him an ownershop stake too.
To be fair, he’s on roughly 35k a week. That’s probably what Carl Jenkinson makes.
Jenkinson’s on £45k a week. That’s why we can’t get rid of him.
Company car allowance of 20k is taking the piss a bit. Sure he could afford a decent set of wheels on 1.7 mil.
Strange that Arsene said he will decide about his future in september. Arsene to replace Gazidis ?
i wouldn’t mind. i think he’d be good for it. at least we know he’d be committed to the project.
although, considering his track record in the transfer market, maybe just having him chase down the deals and let someone else do the actual negotiating.
Wenger on the board? Just kidding, they will never have anyone who remotely cares about anything other than profit on the board.
No.
They won’t bring him back on the board because they fired him already. And probably there’s bad blood there.
So many businessmen in the comments section. Makes you wonder why they’re here and not taking care of their million dollar corporations.
wenger spent (or didn’t spend) their money like it was his own. what makes you think that’s not attractive to them?
the kroenkes didn’t want to fire wenger, they eventually just had to bow under the immense weight of public pressure. i doubt they have any animosity towards him at all.
THIS!
which makes you wonder then; why the hell would they want to let the club remain stagnant? If they’re going to bow to public pressure on Wenger, I’m pretty sure they’ll bow to public pressure on the club’s recent league positions.
Exactly Goona brotha from anotha motha.
brraap! 🙂
Why not? Discounting all the facetious and snide comments, Le(gend) Prof Arsene was more/less an economist as well (in addition to other things that is), right?
Because he’s never been a Chief Executive of a business in his life and this is neither the time nor role for us to let him see if he’s up to it. It’s amazing how people are happy to let romance influence their thinking in football and in the same pages slate the club for being run well. It’s much the same when people start moaning about certain ex-players not being given coaching roles. Find the best and most experienced person for the club, not find someone who the fans once loved for doing an entirely different job. You wouldn’t… Read more »
Gazidis needs to hurry up and leave. Make this as soon as possible.
These guys hid under Wenger’s flaws and let him take all the heat for their incompetence
…”also reported in The Mail” Do even they deserve a mention on this site? I know, professional courtesy but it’s The Mail.
I do not see why Ivan would stay. He has done a lot for Arsenal but he has also been belittled a lot. For someone who has a vision for what the club should be like, Bayern, he has had to endure a lot of put downs. Arsene May be gone but the owners that denied him the backing he needed are now about to control 100 percent of the club. If he stays it would be good for us, but it would be a bad career move on his part. I would like for him to stay as the… Read more »
Forgive me for the spelling errors, autocorrect is killing me.
Yeah that poor guy, imagine having to turn up to a job where you feel completely restricted and only having a 1.7m salary to compensate.
I’ll be sure to have a whip round for the poor guy should he feel he has no other option than to move to Milan.
Players could also just turn up for training and not worry about being on the matchday squad, they will still get their big wages for whatever length of contract they have. There is a greater sense of hunger for people who get to Ivan’s level of wealth, because they put in the work and effort in the first place to ensure that he can ask for such a sum as a salary. He isn’t just any guy Arsenal picked up on the street. AC Milan are not pursuing an incompetent CEO. If you told a footballer to sit and pick… Read more »
Devlin, I agree. People who think Ivan just turns up for a pay check are deluded. He’s not working in Mcdonalds or behind a bar. It takes a huge amount of effort, dedication and skill to have achieved what he has and become CEO of arsenal and last for a decade. There is no reason to believe he didn’t want Arsenal to compete at the highest levels, of course he did, it would benefit his career and his ambitions. These guys are ruthlessly ambitious. Anyone who thinks otherwise I cannot take seriously. All the people I know who operate at… Read more »
I don’t think he’s been disastrous. He’s done some very good things for the club. I agree that Wenger had a hotline to Kroenke and in many ways I was surprised that Gazidis didn’t walk last summer after trying to remove Wenger then (which is a fact). He’s also a politician and I think the smarminess that comes with many of them inevitably winds up some fans, often without good reason. But he has also been the chief executive at a time when our revenues have been deeply disappointing and behind the curve of the other top 6 clubs. And… Read more »
Perhaps Ivan might take a disgruntled player or two with him when he goes? Let’s hope any new Chief Exec or Board member is able to describe the offside rule and know what a free “kick” is and know it’s different from a kick off…. How many points for a shot over the bar?
I know this sounds silly but, in all seriousness, do they really need to know the rules, isn’t that more a desirable thing rather than essential?! Isn’t it far more important that we have a chief executive who can run a business, maximise revenues and get the whole club working efficiently and harmoniously? If you look at Man Utd, the CEO is doing a fantastic job running the club and i’m quite sure that he sought the input of many experts before Mourinho was appointed and he would do so again before sacking him. You don’t need to know the… Read more »
Yaya Toure – Arsenal
Elneny – ???
New CEO please hire a real doctor instead of the Herbalife dude from Australia third league
I’d be surprised if Arsene wasn’t returned to the club in some capacity. I think it’d be a bad move, Arsene has real qualities but lacks the ruthlessness needed to be involved in any type of contractural negotiations, or any hiring or firing…. Think Rosicky new contracts Arteta’s last contract Wilshere’s almost new contract after 7 years of producing nothing Diaby’s new 4 yr deal An unwillingness to change back room structures or coaching staff. Arsene’s contacts and knowledge could certainly come in handy in certain areas, but if he comes in alongside Josh Kroenke? It’ll be the Arsene Wenger… Read more »
This is about Kroenke is taking over the whole Arsenal. Which part of it is exciting?
The judgement day is around the corner…..
Backroom staffs reshuffled
Players were sold, released and loaned
players were bought, and some were brought
Coaches were installed at various levels
The season has started
Points have being lost and gained
Almost all the Shares have being bought
The final decision now is
The boardroom to be set up
Booooom the trumpet will now sound….
get ready brethren cos we are in for a very rough ride
Any other club would say 24 hours to decide not a month like us. Ridiculous
that’s not smart, that potentially puts us in a situation where we would theoretically have to find a replacement CEO in less than 24 hours. a month without a CEO would be much more damaging than using that time to scope out replacements in the event that the current man leaves…
I guess so much debate about a CEO is the modern football world but I honestly can’t be arsed having a strong opinion on him staying one way or the other. Amazed so many people do have one.
We’ve a match this weekend (& many after) either way……
#WengerIn!
How about David Dein as Gazidis replacement?
How about Henry Norris?
This is becoming so unarsenalistic.
If, as seems likely, this means a higher profile role for Josh Kroenke then it’s dismal news. His directorships at some of Kroenke’s other US sports franchises – Nuggets, Avalanche & Rapids – have been unmitigated failures. If he continues to previous form, we can expect poorer results and falling attendances. It also suggests the club will continue to reshape according to the American model where sports franchises are run as businesses designed to make the principal shareholders rich – through annual withdrawals/payouts – quite the opposite of the prevailing model at successful PL clubs.
Leave, Ivan, while you still can!
Perhaps I am reading it incorrectly, but it looks like if Gazidis gives notice within three months of a “change of control” (and assuming that taking the company private and de-listing it meets the contract’s definition, or the legally accepted meaning, of a “change of control”), he is entitled to receive triple his annual salary (plus his annual bonus and pension payments) as a severance payment. That’s a pretty strong incentive to leave.