Owners Elliott Management Corporation are continuing to show their financial commitment to making sure AC Milan are healthy, a report claims.
Calcio e Finanza (via MilanLive) report that the Elliott fund have spent a total of €705.65m on Milan from 2018 to today, a figure which can be seen from the latest financial statements of Rossoneri Sport Investment, the Luxembourg company that controls 99.93% of the club shares.
Some time after June 2020 a payment of €129.90m was made to cover the costs of the club amid the increase in revenue losses due to the Covid pandemic, and of course an important indicator will come when the latest financial accounts are revealed.
The management are committed to both containing costs and also raising revenue – as seen with the number of new partnerships confirmed recently – but given that the Covid emergency has caused damage in terms of revenues it is expected that Milan will still be making big losses.
Despite this, it should be less than €100m and the previous year had been €194.6m, a record in the history of Milan.