Football Italia are reporting that AC Milan have signed off their balance sheet for 2018/19 with a record loss of €145.9 million. Milan have dropped further into the red by about €20 million. This represents the biggest ever loss in the history of the club.
Till June 30, AC Milan's losses rose by 16 percent for the same period the previous year.https://t.co/5slRgDMZ4U— The Field (@thefield_in) October 17, 2019
The major worrying factor as pointed out in the report is the drop in revenues of about 6%. The revenues from TV rights rose by about €4 million however revenues from player sales dropped, revenues from sponsors fell and surprisingly ticket sales have fallen too by about €1.2 million. Milan reportedly failed to sign a contract with Telecom that contributed to a significant drop in sponsorship by €6.7 million. One of the significant increases in the club's running costs were the loans signings of Gonzalo Higuain from Juventus and Tiemoue Bakayoko from Chelsea that cost the club about €13 million for the year.
Milan registered record €156M losses for the budget of the 2018/2019 season (ended on June 30). Gazidis made a typical move for directors in 1st year in office, providing a "budget cleanup" discounting all possible losses in just one year to start from scratch [La Repubblica] pic.twitter.com/mgQX7DVb0r— Milan Eye (@MilanEye) October 16, 2019
Milannews.it via Football Italia claim that the management is happy with these numbers and are unconcerned as this is considered to be part and parcel of the restructuring process. “To keep the club afloat, Elliott have injected 325 million euros in total up until this September, Sky Sport Italia reported” via Yahoo! News.