Elliott Management are not the only ones that will be making a decent chunk from the sale of AC Milan to RedBird Capital. In fact, Ivan Gazidis is also entitled to part of the sum as the CEO of the club.
The South African director left Arsenal back in 2018 to join the Rossoneri and in order to convince him, Elliott added a rather interesting clause in his contract. Thanks to the sale of Milan to RedBird, Gazidis is entitled to around €20m.
This was reported by Verità & Affari (via Calciomercato.com) this morning, stating that Gazidis is entitled to 5% of the capital gain of the sale. Elliott have invested €800m since taking over the club and the sale is worth €1.23bn.
That puts the value of the clause at €21.5m, which is a decent amount of cash. Gazidis’ contract will expire in November and he’s expected to leave the club, ready to slowdown his work rate now that he has been safeguarded for life financially.