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San Siro Stadium, the home of AC Milan
San Siro Stadium, the home of AC Milan

AC Milan Destiny Unclear

For Milan the only remaining option is to request a punishment that restricts their spending and places financial controls on them, just as both Inter and Roma were granted in the past

AC Milan Destiny Unclear

The famous Italian club is faltering on the pitch, but AC Milan’s future off the pitch remains in danger too, after UEFA rejected the club’s Financial Fair Play pleas.
The economic commission of European football’s governing body met on Friday to discuss the finances of all teams involved in European competition for this current season. Although the ruling will not be made official until Monday at the earliest, Marca has learnt that UEFA has rejected every single argument presented by the new Chinese owners of the club.
In accordance with the rules of FFP, clubs are allowed to make a personal case at UEFA’s Nyon headquarters, presenting a multi-year business plan showing that balancing the books will be possible in time.
Unfortunately, UEFA did not trust the proposal put forward by the club’s Chinese ownership, as the plan had no structured basis, with much of the funds dependent on the club qualifying for the Champions League, which at this point looks a long way off.
The air of mystery that has accompanied the protracted takeover of the Milanese club also did not help their case. For Milan the only remaining option is to request a punishment that restricts their spending and places financial controls on them, just as both Inter and Roma were granted in the past.
At this moment that seems unlikely, such is the distrust of Milan’s management and the sloppy nature of the business plan. All the indications are that the club will be banned from UEFA competition in the 2018/19 season.
Once again, one of Italy’s most famous clubs are now looking for a new buyer and Silvio Berlusconi returning has not been discounted.
Li Yonghong’s purchase of AC Milan was only possible due to a loan granted by a North American fund and, in total, the operation came to $357 million, along with a $59 million interest payment that must be paid by October 2018.

 

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