MN: Improvement of Milan’s accounts continues – the target by 2023 is clear | OneFootball
MN: Improvement of Milan’s accounts continues – the target by 2023 is clear
AC Milan’s financial situation continues to improve but the management are not fully satisfied and have a target for the next two seasons, it is claimed.
In his latest editorial on MilanNews, Pietro Mazzara writes that it will be the club’s shareholders’ meeting at 16:00 CEST today, where the 2020-21 budget will be approved. The financial year closed with losses of €96.4m which of course is not ideal but is still a a clear improvement compared to the €-194m registered a year ago.
In a year in which Covid had a full impact on the accounts because of the revenue streams it cut off, it marks an amazing result that CEO Ivan Gazidis has been pushing and working towards. Not only that, but the recovery is also continuing this season because matchday revenue and ticket sales have returned.
The target for the next two seasons is to get close to budget parity or even to reach it – therefore no losses – and then the leadership know a more competitive Milan on the pitch can be achieved thanks to more sustainable investments.