Owners Elliott Management have seen their plans for AC Milan ‘complicated’ by the outcome of the latest budget, a report claims.
According to il Sole 24 Ore – as cited by MilanNews.it – 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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