AC Milan’s first financial statement, the first since Yonghong Li’s acquisition of the club, will still show a loss. It will take at least three years before reaching the balance between revenues and costs. This is what AC Milan’s CEO Marco Fassone reported to the small shareholders at the assembly in which the capital increase was also approved.
AC Milan’s operating costs are going to increase in the near future. The club needs to invest in strengthening the roster and in renewing important contracts such as the one of goalkeeper Gigio Donnarumma. On the other side, revenues will be lower due to the missed qualification of the Champions League.
Although next season the format of the Champions League is going to change, due to UEFA’s decision to allow four clubs of the Top-5 Leagues to directly qualify for the most important international competition for clubs, AC Milan needs to plan long-term strategies to increase revenues. The Rossoneri will focus on the expansion of the Asian market and on the development of a new stadium.
As Fassone explained at the assembly, it’s not sure that the club will be able to build a new facility. However, the strategy is to have a stadium with 60,000 seats (San Siro could be the right one) to sharply increase revenues. AC Milan is, therefore, looking forward to replicating Juventus’ model. In fact, since the opening of the Juventus stadium, the finances of the Bianconeri of Turin have boomed.
CEO Marco Fassone also briefly spoke about the AC Milan summer tour. The team will be involved in two friendly matches in China but a third international game could be planned as well. This will depend if Milan qualifies for the Europa League.
In conclusion, Fassone didn’t want to answer to the sinful question of a shareholder in reference to a possible departure of the Italian youngster Donnarumma. However, he clarified that the main goal of the club is to increase revenues to have the possibility to consequently increase wages. By saying this, Milan’s CEO opened up to the possibility of renewing Donnarumma’s contract as Mino Raiola (his agent) requested to the club.
