Milan shareholders’ meeting approves the financial statement for 2021-22 with a €66.5m loss, while President Paolo Scaroni reveals the Rossoneri could build their new stadium alone.
The Rossoneri keep improving their finances, given that they registered a €194m loss in 2019-20 and €96.4 in 2020-21.
This morning, the club’s shareholders approved the financial result for 2021-22, registering a loss of €66.5m.
RedBird Capital Partners completed the club’s takeover this past August, acquiring a majority stake in the club for €1.2b.
“I am convinced that the new shareholder Redbird, with his team of sports professionals, will make a contribution of knowledge, relationships and skills that we did not have on the international front,” Scaroni said during the meeting, as quoted by Gazzetta.
“We are going to experience a new phase of growth, after the reorganisation of the last four years with the previous shareholder Elliott”.
Milan’s gross revenue raised by 14% in the last financial year.
Minority shareholders questioned Scaroni about several issues, including the Super League. The Rossoneri were among the 12 founding members in April 2021 but quickly followed Premier League clubs, Inter and Atletico Madrid, abandoning the project.
“For Milan, it is set aside, but the problems that caused it have not been solved and we hope that UEFA will take care of it,” said Scaroni.
CEO Ivan Gazis sees his contract expire in December and according to reports in Italy, he may not continue with the club in 2023.
“We leave Ivan’s decision to him. I thank him for what he did for Milan. It’s easy to be a club president when you have a CEO like Gazidis.”
The Rossoneri are working on a new stadium project with Inter, but Scaroni reveals the Rossoneri could build their new home alone.
This past December, Gazidis claimed that building a new stadium alone would have been unaffordable for the club.
“The public debate is progressing quite well,” said Scaroni.
“If the new stadium will be in the area of San Siro, we will build it with Inter. We haven’t registered financial difficulties on the stadium front on their side,” he ensured.
“However, we are also working on other ideas beyond San Siro. In that case, we could decide to build the stadium alone or with Inter.”
Scaroni concluded by saying that the Rossoneri are finalising a new agreement with their main sponsor Emirates.
A club like Milan deserves its only stadium.
yeh but frank thr too cheap like inter, milna still talking about the super league
Call me a traditionalist but I’d like to see it in the San Siro area and with Inter. Of course whoever takes Inter over may want their own stadium.