Milan suffered significant financial losses by the end of 2018/2019 financial year, according to Milan News, referring to Tuttosport.
According to the source, the amount of losses amounted to EUR 145,9 million, against an expected 90 million which Is 20 million more than in the previous financial year and is a record in the history of the club.
The total turnover of the club grew by 5.1%.
However, the club are concerned about the fact of a decrease of 6.7 million euros of income from sponsors, as well as the drop in ticket sales for the matches.
The main costs fell on the purchase and lease of players.
In addition, the club had to renovate the facility.