The huge losses recorded on AC Milan’s accounts for the 2018-19 season were in fact expected by the club, according to a report.
It was revealed on Wednesday that the Rossoneri came out of last season with losses of around €155.9million, an increase from 2017-18 under Yonghong Li’s ownership.
Panic has since ensued among the fanbase, with La Gazzetta dello Sport even claiming that Milan may have to sell a star player in order to offset the damage.
However, MilanNews.it acknowledge that owners Elliott Management have already covered the loss, so therefore the club are in ‘total safety’, unlike under the previous ownership.
They add that the losses for the 2018-19 financial year were widely expected, but that the figure of €155.9m is destined to be reduced this year and in the years to come.
The Rossoneri are moving towards a situation of compliance with the parameters of Financial Fair Play, something which challenging path but is already underway, the report adds.
The most important data from the balance sheet is the impressive improvement in equity, which increased by €119m from €-36m in June 2018, to €83m twelve months later.
This is a ‘very significant indicator of the financial health of the club’ and of the extent of the concrete support that Elliott is guaranteeing, MilanNews adds.
In order to get out of the mess that Elliott inherited from the previous managements, it will take more than a year, but the journey is well underway.
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