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MilanNews.it are reporting that AC Milan will post a loss of 100 million euros as they close their balance sheet on the 30th of June for the 2019/20 financial year. This is an improvement from last year's record loss of 146 million euros. The report notes that these numbers are tentative and that the initial estimate was of an 80 million euro loss.
According to @MilanNewsit, Milan had forecasted around €80M losses for this financial year, but due to the COVID-19 crisis & the loss of some of matchday revenue (and some of the sponsors & Casa Milan income) the damage caused by the lockdown and restrictions added further €20M
— Milan Eye (@MilanEye) June 26, 2020
The 20 million disparity is being attributed to revenue losses caused by the coronavirus pandemic where the club missed out on ticket sales from major home fixtures. Sponsorship fees related to match days also contributed to this.