Arsenal chief executive Ivan Gazdis is considering taking a lucrative offer by AC Milan.
Gazidis became CEO at Arsenal in 2009 and his nine-year tenure at the club looks to be in doubt as he is thinking over a deal which could earn him £3.6million per year at the San Siro.
Arsenal were expecting the 53-year-old to accept a new challenge in Serie A, but it is understood he is yet to make a decision on his future.
Gazidis, who is one of the most well paid executives in the Premier League, has played a major role in appointing Emery following Arsene Wenger's departure.