Paolo Maldini is losing the confidence of AC Milan owners Elliott Management.

Maldini returned to Milan last year to take up a director's position. However, after overseeing his third coaching appointment, Maldini's position is now in doubt.

Fellow director Zvonimir Boban is in a more secure place and TMW says it was his decision to sack Marco Giampaolo.

In contrast, Giampaolo had the confidence of Maldini.

It's also emerged that Elliott will demand a big January sale, with the need to cover a major reported debt.