Serie A: AC Milan break bank for Ralf Rangnick ahead of next season
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Serie A: AC Milan break bank for Ralf Rangnick ahead of next season

AC Milan CEO Ivan Gazidis has announced the appointment of Ralf Rangnick as the club's new manager for the 2020-21 season.

The 62-year-old has been a long-term target for Milan and he has now concluded talks to replace Stefano Pioli.

According to Sky Italia, Rangnick will be the manager, technical director, head of the medical sector, and much more that is yet to be communicated.

Paolo Maldini is the club's current technical director and his contract will run until 2022, but he has been offered the role of Ambassador of the club, a position that he will evaluate and decide whether to accept in the coming days.

This news comes in a positive moment for the Serie A side, during which the hard work of the current management and Pioli is shining through.

Even though he will officially be appointed coach of AC Milan only at the end of the season, Rangnick is already working closely with Gazidis on the transfer market.

The Rossoneri have reportedly made available €75 million for the summer transfer window plus 50% of revenues from player sales.

Rangnick has an impressive reputation after managing both Hoffenheim and RB Leipzig in Germany, and he has also been sporting director at both Leipzig and Red Bull Salzburg

At the moment, AC Milan is 29 points behind leaders Juventus and 17 points behind the Champions League places.