Associazione Calcio Milan had another mediocre season in 2001–02, and the squad fell short of expectations. Milan finished 4th in the league, earning qualification to the Champions League, thanks to a strong conclusion to the season, holding off Chievo, Lazio and Bologna.
In Europe, Milan did well for much of the season and reached the semi-finals of the UEFA Cup, but were eliminated by a strong Borussia Dortmund side (who went on to win the Bundesliga that season), losing 4–0 at the Westfalenstadion in the first leg; Milan rallied and won 3–1 at the San Siro in the second leg, but this victory was not enough.
The poor start to the season led to the early dismissal of newly appointed manager Fatih Terim, who was replaced by Carlo Ancelotti on 5 November 2001.
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