AC Milan’s owners Elliott Management continue to show their commitment to making sure the club is financially stable.
A statement on the club’s official website recently confirmed that the Milan Board of Directors have approved the draft financial statements for the financial year ending 30 June 2020.
Ultimately, the net loss was €195million which is the highest single-year loss that the club have ever made, but the club cite a number of exceptional circumstances as being a driving force such as Coronavirus and the bad situation they inherited from the previous ownership.
According to Felix Raimondo on Twitter, Elliott have injected another €86.75million into the coffers of Milan to reduce the strain of the clubs finances.
This takes the total investment from Elliott to a total of €470million in terms of working capital from the period of August 2018 until the present moment. The most recent transfer took place on 14 October 2020, he adds.
Dalla lettura del bilancio dell'AC Milan probabilmente capiremo se questi 86,75M sono stati effettivamente utilizzati tutti dalla società rossonera. Elliott continua a supportare il club: dal 2/8/2018 al 10/09/2020 salgono a 470,25M i prestiti concessi per iniettare capitale. pic.twitter.com/fM0s7ISfSt
— Felix (@FeliceRaimondo) October 19, 2020