AC Milan dismiss Allegri after missing out on Champions League

May 25 : AC Milan said on Monday they had sacked manager Massimiliano Allegri after a late-season collapse the Serie A club's owners called an "unequivocal failure" with a fifth-place finish that meant they missed out on Champions League qualification.

Allegri is leaving along with senior executives Giorgio Furlani, Igli Tare and Geoffrey Moncada in an overhaul aimed at restructuring AC Milan's soccer operations for next season.

AC Milan concluded an abysmal second half of the season with a 2-1 home defeat by Cagliari on Sunday, winning just one of their final four matches. The final whistle was met with heavy booing from the San Siro fans as they missed out on a place in Europe's top competition for a second season in a row.

"The final stretch was completely inconsistent with the performance up to that point, with last night's disappointing loss in the final game turning the season into an unequivocal failure," AC Milan said in a statement.

LATE-SEASON COLLAPSE

Allegri returned for a second spell this season, having previously led AC Milan from 2010 to January 2014. The team maintained a sustained challenge for the Serie A title for much of the campaign but saw a sharp decline in form at the end.

The veteran coach accepted responsibility for the overall result after Sunday's defeat, 24 hours before news of his exit.

"Further announcements regarding the next appointments will be made in due course - with the goal to be ready and well prepared for the next season," the club said.

AC Milan's sweeping shakeout also reflects the approach of owners RedBird Capital Partners.

The U.S. group has shown little hesitation in reshaping the club's hierarchy, after dismissing AC Milan legend Paolo Maldini in a similar restructuring move in