Tuttosport: Positive signs for Milan regarding accounts with losses set to be cut by €46m

By Oliver Fisher -

AC Milan’s accounts look to be in a much healthier position for the 2019-20 financial year than they were for the year prior, a report claims.

According to reports from Monday’s edition of Tuttosport (via MilanNews), things are looking up regarding the Rossoneri’s economic situation.

The paper claims that Milan’s 2019-20 accounts should close with a loss of around €100million, which doesn’t sound great on the face of things. However, it represents a clear improvement compared to the €-146m recorded in the 2018-19 financial year.

It must also be considered that the club have been working with the Coronavirus pandemic against them, and the reduction in matchday revenues that has followed as a result.

it certainly lends to the idea too that Elliott Management Corporation – having entrusted Ivan Gazidis as CEO – are firmly committed to cutting unnecessary costs and putting the club in a much healthier and more sustainable financial position.

Tags AC Milan