MILAN – After a brief meeting of the club’s board of directors, the shareholders' meeting took place yesterday.
Adriano Galliani announced a consolidated loss of €15.7 million with Fininvest covering the loss with an investment of over €22 million.
The figures relate to all three companies within the Milan Group: AC Milan, Milan Entertainment and Milan Real Estate. Accountancy firm Ernest & 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.
Adriano Galliani: "Credit for the new Casa Milan goes to Barbara Berlusconi. 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”.