Arsenal could lose the services of chief executive Ivan Gazidis as he is 'considering' a lucrative offer from AC Milan, The Telegraph reports.

What's the word?

A frantic few months has seen many changes occur at Arsenal, the biggest being Unai Emery appointed as successor to Arsene Wenger, and the club has still not found stability despite the transfer window closing earlier this month.

The Gunners managed to retain the services of Aaron Ramsey, who has entered the final 12 months of his contract, but have been left sweating over the future of chief executive Ivan Gazidis - despite finally earning the power he has patiently waited nine years for.

Gazidis was a major player in Emery's move to Arsenal over the course of the summer and has been handed an increased role in the day-to-day running in North London following Wenger's departure - but he has had his head turned.

According to The Telegraph, Gazidis is considering an offer from Italian giants AC Milan that will see him earn a whopping £3.6m-a-year at the San Siro - an increase of £1m on the fee he currently receives from Arsenal.

Can Arsenal cope?

While Gazidis is certainly replaceable, the timing of AC Milan's approach could not be worse as the Gunners are desperately trying to settle into a new regime and have found things difficult, losing both of their opening Premier League matches.

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Entering an era without Wenger and Gazidis, who have both been a staple of the club for lengthy periods, is a daunting task and one that could throw up plenty of problems, especially with the Gunners having only recently shifted to their new regime.

Losing Gazidis at this stage would leave Arsenal needing to find someone to fill the void in the day-to-day running of the club, while any potential replacement may seek financial assurances that the Gunners cannot offer at this time.

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