AC Milan were invited to UEFA’s headquarters in Nyon to discuss the club’s Financial Fair Play situation, and calm filters from Casa Milan.
According to La Gazzetta dello Sport (via SempreMilan.it), Milan’s CEO Ivan Gazidis – accompanied by Giorgio Furlani who is a portfolio manager for Elliott Management and a club board – was invited by UEFA to Nyon to discuss Financial Fair-Play.
There will be no response from UEFA in the short term but optimism filters through Milan, given that the club have been moving for some time in compliance with the parameters of European football’s governing body.
That is why the Diavolo hope not to receive further sanctions and they believe that UEFA have been observing the improvement made in the last two years with regards to the accounts, thus making any economic sanction counter-intuitive.
In 2019 Milan were punished with exclusion from the Europa League for making huge losses in their accounts from the period 2014-2017 – the three-year period under the management of Berlusconi and Yonghong Li.
Since June 2020 under the management of Elliott there has been a clear positive trend, starting from €-194m in 2020 to €-96m overall in June 2021. Liabilities should fall to €-40m by June 2022, meaning the club would be very close to the €-30m target which has not been adjusted to allow for losses in revenue due to Covid.
