AC Milan’s financial recovery is on the right path, but there is already a next step in the minds of the management, a report claims.
Calcio e Finanza and MilanNews are both reporting 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.
This morning’s edition of Tuttosport (via MilanNews) writes that the Milan Shareholders’ meeting will be staged on October 26th and among the points of discussion will be the approval of the financial accounts which closed on 30 June 2021.
The paper confirms that the books will record a loss of €96.4m, effectively halving the €-194m from the previous year. Despite the fact Milan are still heavily in the red, the ownership is satisfied with the results achieved in a year in which Covid impacted 100% on the club’s revenues.
The aim is to further reduce the hole and move closer to budget parity, which might be bad news for anybody expecting any big transfers.