Ancelotti signs new Milan deal

MILAN, Italy (AP) -- Coach Carlo Ancelotti has extended his contract with Serie A powerhouse AC Milan through June 2005, club managing director Adriano Galliani announced Saturday.

"The contract has been stretched in time but cut in economic terms," said Galliani, who is also the president of the Italian soccer league. "It's something that all clubs should do to relieve the state of Italian soccer."

Galliani did not disclose terms of the new contract.

Several Italian clubs are in deep debt and the government recently decided measures intended to spread losses over a 10-year period and avoid possible bankruptcy by some.

Ancelotti, a former AC Milan and AS Roma player, got his contract extended at a difficult time, as the team owned by Italian premier and media tycoon Silvio Berlusconi is coming off two losses in the last three league matches.

AC Milan shares second place with defending champion Juventus in the Serie A table, three points behind leader Inter Milan.

The Milan team also is in the running for the Champions League and Italian Cup titles.

"It took 30 seconds to reach the agreement, that means confidence and esteem. I'm happy, because I believe this is the best place for working," said Ancelotti, on the eve of Sunday's Round 21 tough match against Lazio.

Ancelotti took over as AC Milan coach in 2001, on a two-year contract expiring next June.

 

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