AC Milan announced on Friday that Massimiliano Allegri will replace Sergio Conceicao as the first team coach from today. The two parties signed a contract until June 2027, with an option for one-year extension.

According to Italian media reports, Allegri's annual salary after tax in Milan is about 5.5 million euros, plus an unknown amount of bonuses.

Allegri's appointment as AC Milan coach marks his return to the Rossoneri after 11 years. The 57-year-old coached Milan for the first time from 2010 to 2014, during which time he led the team to a record of 91 wins, 49 draws and 38 losses, winning the Serie A title and the Italian Super Cup.

In addition to AC Milan, Allegri has also served as head coach at Alianes, Spal, Grosseto, Sassuolo, Cagliari and Juventus. His coaching record so far is 344 wins, 135 draws and 147 losses, and he has led Juventus to 5 Serie A titles, 5 Italian Cups and 2 Italian Super Cups.