NEWS
Tuesday September 12 2017
Fassone: ‘How Milan will grow’

Marco Fassone admits Milan “will have constraints from UEFA” and expects to make €100m in the Chinese market.

The Rossoneri spent big on the transfer market this summer, and will be assessed by UEFA’s Financial Fair Play board in November in relation to a voluntary agreement.

In addition, the takeover by Chinese businessman Yonghong Li was funded by a U.S hedge fund, Elliott Management, which must be repaid.

Today the CEO of the club has spoken to Corriere dello Sport, and expects to grow revenues hugely in China.

“The top clubs bring in 10s of millions of Euros there,” Fassone explained.

“Even Manchester United, the absolute market leader, make €20-25m. Our bet is to get to €60-70-100m in the coming years.

“We have a local company in China, not just a simple office, and Chinese managers who can develop our culture with knowledge of the culture and what moves to make.

“There’s a financial plan which goes hand-in-hand with the sporting one. The objective is the Champions League places, we want to get there, then grow again, then win.

“Failure to do so wouldn’t be a drama though. I’ve also presented plans to UEFA which don’t involve being in the Champions League, and therefore €40m less in revenue.

“If we’re ‘only’ in the Europa League we won’t shut up shop, but we won’t hide that the shareholders have asked us to go back to playing in the most prestigious cup.

“FFP? In May we got an extension to sign the voluntary agreement, we were called at a time when our plans were still superficial.

“We’ll meet again in November and hopefully everything will be in place.

“Finding the voluntary agreement could give us some advantages, but we’ll have constraints with UEFA.

“This year the ownership has accepted big losses which will be covered by capital increases in the next budget, and we’ve added 11 players.

“In 2018 we won’t need to rebuild, the idea is to take two or three elements and improve where we need to. We’ll have a good transfer campaign even without sales.”