The main problem with AC Milan’s 2018-19 budget was a rise in ‘personnel costs’, according to a report.
The Rossoneri’s 2018-19 budget was revealed on Wednesday and it made grim reading, with the club’s losses having risen from their level under the ownership of Yonghong Li in 2017-18.
La Gazzetta dello Sport report that Milan had €146million of losses for last season, a rise of €20m from the Chinese ownership, and they claim that it is down to one key area of expenditure.
The paper reports that Elliott Management spent €35million more for the cost of personnel (mainly due to player wages), as the figure increased from €150.4m in 2017-18 to €184.8m.
In addition, it is worth noting that sponsorship income decreased from €44.7m to €38m.
The same outlet also report that Milan may be forced to sell one of their star players in January due to the outcome of the latest budget.