Milan are in talks for a sale to Chinese investors, but it’s reported their revenue has dropped and costs increased, running at a loss of €89m.
President Silvio Berlusconi values the club at €1bn, whereas the Chinese investors with American advisors are closer to €650m.
Forbes estimated the value of the Rossoneri at €775m, but new details show there are big problems at San Siro.
Calcioefinanza.it claim the accounts that will be presented to the shareholders on April 28 show they ended 2015 running at a loss of €89.3m.
This is a reduction from the €91.28m of 2014, but at that time Milan had the excuse of ‘extraordinary’ €21m expenditure that isn’t in the 2015 accounts.
It would mean that over the past five years, Milan have lost €270.5m.
The most worrying aspect is that revenue has reportedly dropped from €233m in 2014 to €221m last year.
Some of that is down to the lack of European games and a drop of around 10,000 spectators per match in Serie A to just 31,876 on average.
The costs have gone up by four per cent to €304m, much of it represented by wages.
Over the summer of 2015, Milan spent €122.6m on players and brought in just €7m from sales.