AC Milan’s financial situation when Elliott Management took over was desperate, and due to the ongoing Coronavirus crisis it is proving to be a struggle to improve it.
Back in June, MilanNews reported that Milan will close their balance sheet for the 2019-20 season on June 30 and would register a loss of around €100m, which is better than the -€146m from 2018-19.
However, Milano Finanza (via MilanNews) are reporting that the situation is worse than feared some months ago and that a record loss is expected of somewhere between €175-200million.
According to the same outlet, the Rossoneri they are quite calm because they can count on Elliott Management, who have already given financial contribution to cover the losses and to continue without problems.
The vision is simple: to go along the path of consolidating the accounts and relaunching the team, and the American fund have already injected €140million into the coffers since July. Not only that, but thanks to Elliott’s ownership, Milan are one of the most capitalised Serie A clubs with a limited financial debt.
