CorSport: Furlani set for ‘another three-year term’ as Milan’s CEO – the reasons

Despite rumours that CEO Giorgio Furlani could be leaving AC Milan, it seems that he is set for a new term.

When it emerged earlier in the week that RedBird Capital Partners were set to refinance the vendor loan – leading to the exit of Elliott Management representatives from the Board of Directors – there was speculation that Furlani would follow.

Three more years

Alessandro F. Giudice wrote in Corriere dello Sport (via MilanNews) and commented on Gerry Cardinale’s quick pitstop in Italy on Wednesday.

He confirms that Cardinale’s presence in Milan does not herald any revolutions in the club’s governance, a possibility that has been the subject of speculation in recent days, nor is it linked to the refinancing of the vendor loan currently underway at the higher level.

Once the operation is concluded, Elliott and RedBird will go their separate ways. Presumably, the new financier (Manulife Comvest) will take the board seats currently occupied by Elliott directors Singer and Mitchell, as Oaktree did when it financed Steven Zhang’s loan.

However, it is out of the question that they would try to redesign the club’s governance. Milan are owned by RedBird, and no owner would accept being placed under special administration by a financier, even an important one.

In recent years, the decision to appoint Furlani and Cocirio as CEO and CFO respectively – both of whom were already on the AC Milan board of directors when Elliott was the owner – has fuelled some talk of their exit. However, the presence of the two (who left Elliott) was never tied to the vendor loan.

Today, Milan reaffirmed in a statement its ‘harmony’ and ‘context of stability, continuity, and unity, with full alignment between ownership and management’. Furlani’s term as CEO, which expired at the end of 2025, has been extended for another three years.