AC Milan had a meeting with the UEFA Club Financial Control Body commission yesterday, the organisation responsible for monitoring the economic accounts of clubs with regards to Financial Fair Play.
According to MilanNews, it was CEO Ivan Gazidis and by Elliott Management’s portfolio manager and club director Giorgio Furlani who represented the club. The duo presented an extensive and detailed report based on the documents requested of Milan by UEFA for the examination of his case.
From the documents presented, a trend of improvement was demonstrated as was a virtuous path that is leading Milan towards financial equilibrium, therefore not requiring the injection of equity.
Gazidis and Furlani showed UEFA executives how Milan managed to significantly reduce losses and raise revenues despite the impact of the pandemic. They left the hearing with moderate confidence and a decision from UEFA should arrive in the coming weeks.
It is unlikely that they fail to appreciate the positive trend that the Rossoneri have shown and the concrete steps the owners have taken up to now to restore financial health.
