Today, the board of directors meeting took place at Casa Milan, according to ANSA. The financial situation of January-June period was analyzed but no capital increase will be made, despite closing the 2018/19 budget at an €80m loss.
The report points out that just one year ago, the club was on the verge of bankruptcy, as the management costs (salaries and amortization of players) exceeded the revenues by quite a lot. Furthermore, the period of the Chinese leadership was closed with a €128m loss.
However, the current leadership has a ‘realistic plan’ to bring back the club to the top, the report continues. That said, it will take time and patience, as everything will have to be done within the parameters of Financial Fair Play. Thanks to Elliott, Milan have no debts to any third-party figure.
In other words, both good and ‘bad’ news for the Rossoneri, although the club is certainly moving in the right direction, at least financially. On the pitch, it remains to be seen.
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