Adriano Galliani spoke to the board of directors about the financial statement for 2014. This is what he said:
“The balance sheet for 2014 conforms to the norms correctly. The loss is of 91.3 million but with the usual criterias normally present the loss would have only been of 46.6 million. Two events contributed to the higher loss, the lack of Champions League football and the different fiscal accounts of Finivest with AC Milan.”
“As of 2013 Milan have been alone and cannot count on the tax breaks derived from the controlling company. Even the entire wage of the former coach until 2016 has been entirely absorbed in the 2014 budget. The parallels between Farina’s Milan and Berlusconi’s Milan are that since 1999 we have competed in the Champions League 13 times and that we were playing in the Champions League until last year. Allegri managed to take the team to first place, second place and then third place in the league and on every occasion we qualified for the knock-out stages of the competition. They are good results. Last year in the second half of the season we managed to pick up 35 points, which is also good. This year things are not going well and I think any comparisons with Farina’s Milan is unkind considering the 28 trophies we have won. History will always remember that.
“Above all Finivest covers all the losses and it covers them for the small share holders as well. No one has ever done more for Milan than Finivest and I know that when you are winning you think you can always win but in football when you win you will eventually stop winning and when you lose you will eventually stop losing. Obviously there are transfer moves to be made and we will try to do just that.”
“Our owners, Finivest, have invested an enourmous amount of money in the club taking the club to incredible results. Finivest has the right to manage the club and not co-manage the club with the stakeholders. If ever the club were sold, which is not at all certain, the Silvio Berlusconi era will remain the most successful era ever of this club. The fact that there are two CEOs is a choice of the shareholder, it is up to the shareholder to decide how many CEOs there are, who they are and what they should do.”
“It is Finivest that has decided not to intergrate the balance sheet of Milan with that of Finivest. The number that comes out is 91, which is certainly more than 46 and I am disappointed about that but Finivest have already covered the loss in March 2015.”