AC Milan’s owners Elliott Management have already invested a significant amount into trying to transform the club’s fortunes, a report claims.
The American fund took control of the club last summer when previous owner Yonghong Li defaulted on the repayment of loans, and they have set about trying to improve the overall financial health of the club.
CEO Ivan Gazidis revealed last month that the club were on the verge of bankruptcy when Elliott took over, while it was confirmed that Rossoneri came out of last season around €155.9million in the red, an increase of €20m from 2017-18 under Yonghong’s ownership.
There are indicators of financial strength from the balance sheets though, including a €119m equity increase from the previous period.
As La Gazzetta dello Sport report – via MilanNews.it – Elliott have invested €345million into the club so far, with the aim of enhancing assets in a medium-term time frame before selling on for a profit.
This expenditure mainly comes from covering debts, player wages, signings (€160m in the last two windows).
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