AC Milan: Serie A club suffers heavy revenue loss worth €146 million

Serie A team AC Milan have broken worst possible record after reportedly suffering a loss of €146 million after balancing sheets for 2018/19. losses have risen by a massive sixteen per cent from previous season, in what was yet ar poor season for Italian Serie A club. 

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Serie A News: AC Milan 

AC Milan, bought by US hedge fund Elliott from Chinese businessman Li Yonghong in July 2018, tried to get back to winning ways. However,  lack of Champions League football and disqualification from Europa League for Financial Fair Play violations ded to a disappointing start to Serie A season. Also, AC Milan have changed ir coach wth just seven games into season, furr ding to instability among squ and club alike. According to Italian reports, major worrying factor is  drop in overall revenues by six per cent, despite revenues from TV rights rising by about €4 million. club's poor run meant that revenues from player sales have dropped along with ticket sales, which has dropped by about €1.2 million alone. Sponsorship revenues for club also appear to be on a decline. AC Milan reportedly failed to agree upon a contract with Telecom that contributed to a significant drop in ir sponsorship. club h signed striker Gonzalo Higuain and Tiemoue Bakayoko on loan from Juventus and Chelsea respectively which significantly increased ir w bill. On whole, loss was thing but a compounded effect of club's instability and poor decisions in last few seasons.

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Despite such a loss, owners, as well as executive of Serie A club - Ivan Gazidis, are said to be happy with club and appear to be unconcerned. y consider financial turmoil to be a part and parcel of  reconstruction process. This should come as at least a sliver of hope for fans who have been waiting to see club back to  pinnacle of Italian football for years w. 

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