Milan officials Marco Fassone and Massimiliano Mirabelli landed in London yesterday to hold talks with Elliot Management bosses who currently own the San Siro club. And according to Italian outlet Corriere Della Sera, Fassone is going to be replaced by Gazidis.
With Milan currently in a financial mess, journalist Giovanni Capuano tweeted a list of news that mentioned various situations regarding both Arsenal and Milan.
There have been many reports in recent days linking the Gunners' CEO to a move away from the club, with Milan after Chinese owner Yonghong Li defaulted on his AC Milan debts. He had lost a grip of I Rossoneri and subsequently left.
Now Elliot Management Corporation - a US hedge fund - are in charge as they look to ring the changes at a club that spent £150m last summer on new players but failed to secure a Champions League qualification slot.
The 53-year-old has been in charge of Arsenal since 2009 who has helped them grow into one of the richest clubs in the world. Although they have never won the Premier League during his stint at the club, Milan have clearly seen something they like.
He recently appointed a new manager, Unai Emery from PSG who was a successor to Arsenal's longest serving manager, Arsene Wenger.