Besides the pitch, Milan results are deplorable and beyond. "Rossoneri" only hold sixth place in Serie A, and now it turned out that have problems and financial indicators.
After the annual general meeting of shareholders out information about the annual report 2015. It reveals that "red and black" have recorded a huge loss only within the past 12 months.
It amounted to 89.3 mln. Euros. The company "Fininvest" which holds the majority stake of the club, said it would cover all financial losses. That company is entirely owned by former Italian Prime Minister Silvio Berlusconi.
The main reason for the accumulated losses lies in the summer selection of Milan. Nearly a year ago the club paid a total of over 80 mln. Euros for players like Carlos Bacca, Luiz Adriano, Alessio Romagnoli and Andrea Bertolachi.
"Shareholders of Milan announced that the annual loss of the club is estimated at 89.3 million. Euro. This amount will be covered entirely by the parent company. The club has a long-term strategy of development and it complies with Financial Fair Play UEFA," the opinion the shareholders.
This news comes just days before the expected transfer of ownership of the "Rossoneri" in Chinese holding company. In view of the huge losses boss Silvio Berlusconi is unlikely to be pulled out of a deal, which is estimated at 700 mln. Euros.
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