AC Milan will soon be taken over by Investcorp if things go to plan and a report has revealed the status of the accounts that they should inherit.
Reuters report that Investcorp are hoping to reach a full agreement with Elliott Management over the purchase of Milan for €1.18bn by the end of the week with things to be made official at the end of the season.
Elliott took over the club in 2018 when Chinese businessman Li Yonghong defaulted on the repayment of part of a €300m package he used to finance the purchase of the Rossoneri from Silvio Berlusconi the year before.
A reckless 2017 summer transfer market left Elliott with huge losses to try and clean up that were not helped by the massive drops in revenue through the Covid-19 pandemic, but by the 2020-21 financial year the losses had been trimmed in half from nearly €200m to €96.4m.
The report mentions that Milan are expected to cut their annual loss to about €60m in 2021-22 which is a further improvement, and shows that Investcorp are inheriting a much changed club compared to four years ago.
