Mar 07, 2016 09:17 AM EST
The former European football giant in the 1990's are facing a financial strain. After huge financial loss for two consecutive years, AC Milan needs new investment.
AC Milan was well-known in 1990's for its consecutive 58 matches without a single defeat. The club had the strongest team of defenders in the history of world football with Franco Baresi, Alessandro Costacurta and Paolo Maldini. AC Milan in the 1990's was nicknamed Gli Invicibili, which mean The Invincibles.
Previously, the team was experiencing a financial difficulties in the early 1980's, and a Milan enterpreneur and media tycoon Silvio Berlusconi, purchased the club in 1986. Berlusconi recruited a 40-year old coach Arrigo Sachi from Parma. Along with new coach, AC Milan also rejuvenate its squad and starting to build a solid team.
During the 1990's, AC Milan became one of the strongest club in the world. Sponsorship were lining up for the club, and AC Milan soon forgot how it had financial dificulties decade earlier.
However, nowadays AC Milan faced another phase of financial difficulties. As the club posted a huge loss of $100 million in 2014-2015 season. In the previous season, the club booked a $102 million net loss. Within the last 10 years, from 2014-2015, according to Forbes, AC Milan has accumulated a staggering loss of $504 million.
Silvio Berlusconi, the owner of AC Milan will have to turn things around to make the club profitable as it was before. One of the first thing to do is to sell its players. As AC Milan, currently in the sixth place have to pay $113 million for players salary, the third-highest for payroll in Italian Serie A league, behind Juventus and AS Roma.
Beside AC Milan, most Italian football clubs also experienced a declining financial situation. As quoted byThe Local, Italian sports newspaper Gazzetta dello Sport reported on Friday there are 20 elite clubs that having financial strain. Total losses for those clubs reached €240 million ($263 million).
Top three of the losses were suffered by Inter Milan with €140 million ($153 million), followed by its neighbor AC Milan and AS Roma with €41 million ($45 million).
Following the huge losses last year and the year before, AC Milan is in desperate need of new investment for creating a team with good players and building a new stadium.
Both team from Milan are not performing well in the league, as Inter Milan was in the fifth place in current standing and AC Milan followed behind in sixth place. The European Champions League competition, which will generate a huge amount of cash from television broadcast is far from sight. Meanwhile last Sunday, AC Milan continued its losing streak with a 2-0 loss away to Sassuolo as Forza Italian Football reported.
AC Milan, a former elite club is in desperate need cash as the club suffered great losses for two consecutive years. As for the last 10 years the club has booked a loss of $504 million.
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