AC Milan reduced their losses by around €130 million in the past three years thanks to an improvement in financial management, a report claims.
As has been reported by La Gazzetta dello Sport today, the Rossoneri are able to boast some of the best account figures of the top Italian sides after they changed how the club was being run.
In the 2019/20 season, the figure in the red stood at €194.6 million due to the poor financial management that was taking place before Elliot Management Group took over.
In the least three seasons, thanks to better management and also the success the team has enjoyed on the pitch in that time, the loss figure now stands at €66.5 million.
The club will be hoping that this is a good position to start from as they look to restore Milan as a Champions League winning side as they were in the mid-2000s. Another league title would help achieve that goal.
Elliott has been the best thing to happen to Milan since the Berlusconi era. Despite all the critics, they saved the club from financial disaster and turned things around in a very short time. We don’t yet have a club that can win Serie A every year or think about the CL final, but at least they put us in the right direction to do so in the near future. No other approach would have given a better result. Let’s hope Cardinale can build on all of this good work. The fact that Elliott is still in the board of directors is a good sign. All those saying Elliott just thought about their own pockets: you don’t have a clue about how business works. The fact that they managed to sell the club with profit comes on top of all the good things they did for AC Milan. They will be remembered in our history as a turning point after a very dark period.
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