Gennaro Gattuso has penned a new three-year-deal to remain in charge of the Rossoneri club.
Gattuso, who replaced sacked Vincenzo Montella in November, will see his wages increased from the £105,000 salary he has had since making the step up from the Primavera team.
The 40-year-old will have a say in the club’s transfer plans for next season as part of the agreement.
“AC Milan are delighted to announce that Rossoneri coach, Gennaro Gattuso, has extended his contract with the club to 30th June 2021,” read a statement on acmilan.com.
“Rino Gattuso’s priority has always been the team, putting it before anything else. When asked about his contract renewal, he expected it to happen, but he always showed he was not in a hurry. He never hid the dream of staying for a long time at AC Milan: a dream that, today, came true.
“Since the first day he became the first team coach, Rino worked with great enthusiasm and passion; and now, consequently, he has extended his contract with the Rossoneri until 30th June, 2021. There are no surprises, as everyone was already expecting this news, but now it’s official.
“This important gesture reflects the total harmony and empathy between the club management and the coach. This way, AC Milan give continuity and confidence to the project, assuring the serenity of the Rossoneri players and the happiness of our fans. The Red and Blacks are [and remain] in Rino’s hands!”
Milan currently sit sixth in Serie A, six points adrift of Lazio in fifth and eight points off fierce rivals Inter Milan who are fourth.