AC Milan have created a new company as they look to increase the revenues that the club receives from the Chinese market, a report has revealed.
The Rossoneri know that certain things are crucial to growing the revenue back to previous levels in order to compete with Europe’s elite, and while on-field factors such as repeated participation in the Champions League are key, there is an aim to constantly increase turnover by focusing on currently untapped markets.
Calcio e Finanza (via MilanLive) reports how it emerged during the publishing of Milan’s accounts yesterday that on February 17 a new company was set up to develop the club’s brand and commercial activities in Asia.
AC Milan (Shanghai) Sports Development Co. Ltd was set up with a share capital of €200k which was fully paid by AC Milan SpA in May 2021, and the project is based around the planning and organisation of sporting events and the sale of merchandise in China.
The report adds how in July 2021 the subsidiary AC Milan (Beijing) Sports Development Co. Ltd was liquidated despite registering revenues of €1.3m against the €300k made by AC Milan (Shanghai) so far.