Ivan Gazidis is expected to leave AC Milan should the club be sold.
Bahrain-based Investcorp are in advanced talks to buy Milan from Elliott Managament.
The American hedge fund brought in Gazidis as chief executive when taking over the club from Yonghong Li and the South African is expected to leave once the sale goes through, says MilanNews.
In contrast, Investcorp intend to keep hold of the football management team, with coach Stefano Pioli and directors Paolo Maldini and Ricky Massara to remain.
Umberto Gandini, currently chief exec of the local basketball league, has been linked with Gazidis' job.
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