CorSport: Elliott continue to lose money; AC Milan fans the only ‘treasure’ left

By Isak Möller -

Tomorrow’s game just won’t be a challenge between AC Milan and Inter. It will also be a challenge between the owners Suning and Elliott, who both have ambitious projects but with different ongoing strategies.

However, while the Nerazzurri are starting to see the first positives of their investment – currently fighting in the Scudetto race – the Rossoneri still have a long way to go. Yet, the commitment certainly isn’t lacking from the owners.

The American hedge fund have spent €805m since taking over in 2018 from the reckless Yonghong Li. However, the numbers of the revenue and budget (both negative) testify that it perhaps hasn’t gone exactly as planned (Corriere Dello Sport via Milanlive.it).

Unlike Inter, Milan are losing on several fronts. In fact, there was a drop in revenue of €58m as a result of a clear loss of sponsorships. To this, the imminent expiration of the Fly Emirates partnership must be added.

The airline company recently offered Lyon €20m for sponsorship, as the report continues, while Milan risks having to settle for €10-12m. The current agreement is valued at €15m, which goes to show how troubling the times are.

The only positive sign for the owners, per the report, is the support of the fans. Despite everything, they continue to generate great attendance and thus box office income. Over one million attended last season, for a total collecting of around €40m.

And this, today, is Milan’s only real treasure. Meanwhile, it remains to be seen if Elliott will remain as the owners for next season as well.

READ MORE: Gazidis doesn’t convince Elliott – Outlining his work at AC Milan 

Tags AC Milan elliott