AC Milan’s path to becoming more financially stable and virtuous appears to be well underway, with the club’s losses reportedly halved.
As this morning’s edition of La Gazzetta dello Sport (via Calciomercato.com) writes, the project that Elliott Management have embarked on is proceeding as planned, not just off the field but on the field as the Rossoneri secured a return to the Champions League thanks to a second-placed finish last season.
The financial accounts are growing too despite the crisis due to the Coronavirus pandemic, as the last balance sheet for Milan closed on 30 June 2021 and has a deficit which has been halved compared to the €-195m from the 2019-20 season, meaning the 2020-21 season is expected to be around €100m losses.
Elliott Management have spent more than €700m on Milan when including the initial loan to Yonghong Li, and all while their own portfolio continues to go from strength to strength. The US fund – led by Paul Singer – posted a return of 12.7% with assets under management of $41.8bn, and Milan continues not to be burdened by bank debts or bonds.