According to M-I Stadio SRL – the company created by Inter and AC Milan that manages San Siro – the stadium has closed the financial statements on June 30, 2016, with a loss of over € 14 million.
Despite the steady increase in revenues this is – economically speaking – the worst year for the two clubs of Milan.
The value of production has settled at € 23.4 million with an increase of approximately € 3.5 mln compared to the year ended on June 30, 2015 (€19,963.381).
A general increase “mainly due to the increase in sales due to the opening of the new store, and the revenues from the Champions League final“, was stated in the official report released by the company. The museum, sponsorships, service management (the rental fee paid by Inter and AC Milan for the stadium management), are there to highlight an increase in production.
However, the increase in the value of production was counterbalanced by a general increase in the operating costs to € 23.350 million. Also, the devaluation costs rose due to the interventions for the Champions League final that made those assets and works performed previously “obsolete“.
The loss for the year – also due to other extra expenses (relating to capital losses on devaluations) – more than doubled from € -6.045 million recorded in 2015 to slightly more than € 14 mln.
In light of these alarming data, AC Milan and Inter were forced to intervene. The two clubs of Milan have replenished the losses with a capital contribution of € 11.2 million. The rest of the budget hole was repaid with the use of previous payments “future losses” already present in the financial statements. Inter and AC Milan contributed in equal parts to the coverage of balance sheet losses being partners with an equal share 50%.
