AC Milan record €32.6 million loss in first half of 2016
The Rossoneri will be hopeful that their long-term future is brighter than what the more immediate picture would suggest, with reports offering an insight into their financial health.
Reuters claim that as per the financial statements of the club at June 30, 2017, it posted a loss of €32.6 million, which is an improvement on the €72 million loss recorded in the first six months of 2016.
This was due to a decrease in the club’s revenue, although there was also a drop in the running costs too but not enough to see Milan avoid operating in the red.
Further, the spotlight will quickly switch to the accounts at the end of the year which will take into consideration the spending spree Milan went on in the summer transfer market with a negative balance of €126.5 million suggested.
The refinancing of the club’s debt in relation to Elliott will also be a key area that will be scrutinised, with Milan in discussions with several financial institutions to help with the process as it seems as though there will be a busy few months ahead to sort matters out.
Nevertheless, the outline of the financial plan suggests that Li will look to achieve a balanced economic situation by 2022.
With Vincenzo Montella and his players struggling to deliver desired results so far this season, the Milan hierarchy will be working tirelessly to ensure that things are running a little more smoothly in the boardroom.