The squad improved their placement in the Fairs Cup compared to the previous season by reaching the round of 16, from which they were eliminated by draw at the end of the extra time of the play-off against English side Chelsea. In the league, on the other hand, they finished seventh, qualifying for the Mitropa Cup the following year, while in the Coppa Italia they were eliminated in the quarter-finals by Fiorentina.
More than for sporting results, the year was decidedly eventful for what happened on the managerial side. On 8 October 1965, president Felice Riva was arrested for the bankruptcy of his cotton mills company.[3] Federico Sordillo took over as regent and remained in office until 19 April 1966, when Luigi Carraro took over the club.
At the end of the season, Cesare Maldini, followed by defender Mario Trebbi, moved to Torino after a twelve-year career with Milan. The captain's armband then passed to Gianni Rivera.
Squad
Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply. Players may hold more than one non-FIFA nationality.