Arsenal fear they are set to lose chief executive Ivan Gazidis.

After AC Milan were taken over by American hedge fund Elliott Management in July, Gazidis has been headhunted to fulfil a similar role at the Serie A giants.

Gazidis is interested in the position but remains torn over departing the Gunners while the club are still in a transition from Arsene Wenger's 22-year tenure to a more egalitarian system under Unai Emery, a move the Englishman was pivotal in seeing executed.

Elliott has offered Gazidis a £1million increase on his current £2.6m-a-year salary and will include a stake in Milan, which could be worth millions.

This move from the new owners could tip Gazidis decision in favour of new pastures, according to the Evening Standard.