By: Ben Dixon Yesterday, it was officially confirmed that AC Milan had ended last season in the red, but Gerry Cardinale will not change his new vision. Seeing that Milan ended the year in the red may bring on worries…
AC Milan has returned to a financial loss after missing out on Champions League football, according to reports from La Gazzetta dello Sport. Club president Paolo Scaroni confirmed the deficit, which is described as modest following previous three-year cumulative profits of €13 million. Despite the drop into the red, RedBird owner Gerry Cardinale reportedly plans to continue investing in the Italian club.
The financial shortfall was largely absorbed by shareholder equity following €176 million in injections from Elliott and RedBird in June. Cardinale intends to maintain funding to improve sporting competitiveness, increase Milan's long-term value, and support ongoing efforts to build a new San Siro stadium.
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