The AC Milan Board of Directors are set to approve the financial statements for the financial year 2019-20 and are expected to confirm record losses.
Back in June, MilanNews reported that Milan will close their balance sheet for the 2019-20 season on June 30. The Rossoneri haven’t been immune to the effects of the Coronavirus and would register a loss of around €100m, which is better than the -€146m last season.
However, fast forward six months and the COVID crisis is far from over with fans still not allowed back into the stadium, and Milano Finanza (via MilanNews) reports that the situation is worse than feared some months ago.
A record loss is expected, somewhere between €175-200million. Of course the Coronavirus pandemic has a huge part to play in this as Milan have had their matchday income essentially eradicated and everything that comes with it such as sponsorship and merchandise sales.
