Related

Article

Milan announce losses

16 April 2014 19:08

Milan have announced a loss of €15.7million for the 2013 calendar year.

The consolidated loss is set to be covered by a €22m investment from Fininvest - a financial holding company owned by the Berlusconi family that holds the controlling stake in the Serie A club.

The club also revealed earnings had dipped from €275.9m to €274m.

A statement on Milan's website on Wednesday read: "The figures relate to all three companies within the Milan Group: AC Milan, Milan Entertainment and Milan Real Estate.

"Accountancy firm Ernst & Young have confirmed that the balance sheet accurately reflects the club's situation.

"The positive tendency as far as wage pressure goes is continuing. The total amount has been reduced from €176.4 million to €144 million while general costs have been reduced by €4 million.

"Earnings have dropped from €275.9 million to €274 million."

Club vice-president Adriano Galliani commented: "The year that this balance sheet refers to is 2013 when we came third in the league and got through the group stages of the Champions League and that was a good year.

"The club is respecting the UEFA Financial Fair Play rules."

Milan have endured a difficult 2013-14 on the pitch - Clarence Seedorf's men are eighth in Serie A - and a failure to qualify for next season's UEFA Champions League will have financial implications.

Sponsored links

Sunday 26 March

23:00
22:47
21:47
21:26
21:13
21:12
20:55
20:30
19:54
19:52
19:40
19:04
18:54
18:53
18:22
18:12
18:00
17:24
17:18
16:55
16:30
16:16
15:32
15:14
14:42
14:35
14:11
13:57
13:27
12:32
11:46
10:53
09:54
04:22
03:39
00:37
00:30
00:05
00:03
00:02

Saturday 25 March

23:31
23:23
23:00
22:47
22:38
22:36
22:36
22:01
21:48
21:39
21:38
19:11
19:07
19:04
18:49
17:42
17:29
17:28
17:03
16:23
16:16
16:01
14:59
14:56
14:05
13:39
13:03
12:15
12:14
11:41
10:55
10:09
05:58
04:58
04:53
03:53
03:14
00:33
00:15

Friday 24 March

23:44
23:34
23:32
22:57
22:48
22:46
22:25
21:57
21:48
21:46
21:30
21:16
20:47
20:35
19:49
19:46
19:18
19:05
18:46
18:08
17:58
17:31
17:18
17:06
16:37
16:13
15:58
15:08
14:42
14:28
14:21
13:49
13:30
12:47
12:36
11:47
11:08
10:43
09:51
09:21
06:32
06:04
05:49
05:25
05:15
02:39
02:30
02:07
01:30
01:08
00:30

Serie A table

# Team MP D P
1 29 +40 73
2 29 +38 65
3 29 +36 63
4 29 +20 57
5 29 +24 55
6 29 +13 55
7 29 +10 53
8 29 +9 48
9 29 +1 41
10 29 +6 40
11 29 -7 38
12 29 -2 36
13 29 -13 34
14 29 -22 32
15 29 -10 31
16 29 -13 29
17 29 -29 22
18 29 -36 15
19 29 -28 14
20 29 -37 12

Facebook