Milan CEO Marco Fassone spoke to shareholders, discussing transfers, budgets and the stadium.
The Rossoneri today approved a loss of €71.9m for the fiscal year 2016, and Fassone took questions from shareholders after the meeting.
It was confirmed that losses will also be made for the next financial year, and that the club will not return to profit for three years, according to MilanNews.
This is because the squad must be reinforced and sporting investments will be made.
Milan CEO Marco Fassone spoke to shareholders, discussing transfers, budgets and the stadium.
The Rossoneri today approved a loss of €71.9m for the fiscal year 2016, and Fassone took questions from shareholders after the meeting.
It was confirmed that losses will also be made for the next financial year, and that the club will not return to profit for three years, according to MilanNews.
This is because the squad must be reinforced and sporting investments will be made.
The plan for this summer’s transfer market is to have two or three players available to Vincenzo Montella for the start of pre-season, before making further signings in August.
Fassone and Massimiliano Mirabelli assured they have been working for the past eight months to strengthen the team, and that the club is still hugely appealing.
The issue of the stadium is aimed to be solved in four years, with the Diavolo currently sharing San Siro with city rivals Inter.
The ideal was stated as a ground holding 55-60,000 people, though it’s not clear if this would be a new arena or a redeveloped San Siro.
Fassone believed that Milan could double the match day revenues of Juventus.
To increase revenue, the Rossoneri will look to grow their brand in China, and two friendlies will be played there this summer.
However, if Montella’s side qualify for the Europa League, there will likely only be one other friendly, so revenues from pre-season tours will be down.