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    AC Milan: 70 million euro loss. 'But the champions will not be transferred'

    AC Milan: 70 million euro loss. 'But the champions will not be transferred'


    The general assembly of A.C. Milan S.p.A., Milan Entertainment S.r.l. and Milan Real Estate S.p.A. have approved the financial statements for the 1/1/2010 - 31/12/2010 period. In addition, the Board of Dircetor expanded from 12 to 13 members as Barbara Berlusconi has been unanimously elected as a new member of the board.

    The net revenues of Gruppo Milan is 253.2 million euro. In 2009, it was 307.3 million euro. There is a 69.8 million euro loss, whilst in 2009 it was 9.8 million.

    The club's CEO, Adriano Galliani said: "We will not sell our champions to cover the loss. I intend to wait with contract negotiations until the end of the season. Every player knows this and now all of them are doing their job and focusing on the champioship. I believe that because of the mutual respect between the parties, whenever they may decide to go elsewhere they will inform us before going public”.

    On the balance: “There was a growth in ticket and commercial revenues, the latter thanks to our sponsors. On the other hand, however, capital gains decreased compared to the previous financial term, when we sold players such as Kakà and Gourcuff, while in 2010 we invested significant amounts in new signings. Then, due to the centralisation of the media rights distribution from 1 July 2010, our revenues coming from this segment also dropped. Ronaldinho’s sale doesn’t affect the financial statements of 2010, but it 2011 it will have a positive financial effect of approximately €12-13 million”. 

    On the financial fair  play: "No question, we need to reduce our expenses, because from 1 January 2012, as for European Cups, the first three-year period of financial fair play will get into force. In accordance, in the 2012-2014 period, we won’t be allowed to record a loss greater than €45 million”.

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