Sole 24 Ore: A record loss for AC Milan; Elliott’s plans are ‘complicated’

By Oliver Fisher -

Owners Elliott Management have seen their plans for AC Milan ‘complicated’ by the outcome of the latest budget, a report claims.

La Repubblica reported yesterday that Milan ended the 2018-19 season with losses of around €155.9million, an increase from 2017-18 under the ownership of Yonghong Li.

La Gazzetta dello Sport then followed that up on Thursday morning by claiming that Milan may have to sacrifice a star player due to the severe nature of the losses.

According to il Sole 24 Ore – as cited by – the Rossoneri in fact were around €146million in the red for last season. 

This had arisen concerns for Elliott Management, as they have so far pumped over €600m into the club: the €300m lent to Yonghong Li, plus another €325m of their own investment.

Therefore, the American fund today would have to sell Milan for over €700m to come out of it with a profit.

The report notes that Yonghong Li’s reckless financial handling of the club is still dragging on the accounts today, but even for the Singer family, not everything has gone smoothly. 

The lack of qualification to the Champions League and the disqualification from the Europa League for Financial Fair Play violations added to a disappointing start to the season, with a change of coach after just seven games this campaign.

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