Today, Milan announced some bad news in regards to their recent balance as they recorded a hefty loss.
In a meeting today, Milan’s loss of 89.3 million euros was confirmed. Fininvest approved the budget of the financial year on the 31st of December and confirmed the losses as well.
Without Champions League football or any sort of European football for that matter, Milan will once again struggle to turn a profit next season. However, there have been reports suggesting that Milan are subject to a buyout from Chinese e-commerce giant site Alibaba. In recent days, Jack Ma is said to be weighing up the possibility of acquiring the club. As a result, it may alleviate their financial issues for the foreseeable future. Ma is currently the 29th richest man in the world.
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