AC Milan have completed the purchase of their headquarters Casa Milan taking over from the old ownership of the property, a report claims.
Calcio e Finanza previously reported how it has been over six years since the inauguration of the new headquarters on Via Aldo Rossi, and how Elliott Management are close to buying the property in which not only the club’s headquarters are located but also the official store, the ticket office, the restaurant and the Mondo Milan Museum.
At the beginning of November, Milan set up the newco (Casa Milan srl) to buy the property from Vittoria Assicurazioni, which is the current owner of the building where Casa Milan is housed. Casa Milan srl is owned 99% by Milan Entertainment and 1% by the parent company AC Milan SpA
As reported by the same outlet, Milan have indeed exercised the purchase option they had on the building that could be exercised by 31 December 2020. To buy the headquarters, Milan spent about €42million, an investment financed by Unicredit.
In terms of how such a big investment effects Milan’s standing with UEFA’s Financial Fair Play, the answer is it doesn’t. The rule stats that “any financial cost directly attributable to the construction and substantial modification of /o an asset to be used for the club’s football activities”. The purchase of the headquarters is therefore one of the virtuous expenses.