AC Milan president Paolo Scaroni has predicted that the club’s accounts will look even healthier for the 2021-22 season as the financial resurgence continues.
Calcio e Finanza and MilanNews both recently reported that the accounting year has effectively closed with a loss of €96.4m, a marked improvement compared to that of the 2019-20 season when the total stood at €-194.6m which was a record loss for Milan.
The 2020-21 budget certainly suffered due to the impact of Covid because of the closed stadiums that drastically reduced key revenue stream, but there is another positive in the fact that Milan also do not have any debts with banks as well as has no bond debts which, as per the report, is a sign of economic solidity on the part of the majority shareholder.
Speaking live to Radio 24’s ‘Tutticonvocati’ broadcast, the Milan president spoke about the club’s project and where the vision lies for the future.
“Our balance sheet has improved compared to last year despite Covid. An important part of our losses is due to the empty stadiums but also to less interested sponsors. I expect the balance sheet 21-22 to improve significantly,” he said (via MilanNews).
“On the field, the project has made great strides forward. We have a young and balanced team. We have also made progress on the costs of the team while in the revenues we have had the great blow of Covid.”