AC Milan's Financial Situation Thread

[Goodfella]

Originally Posted by Jasper

Anybody got comparison lists? And possible structure comparisons as well?

It's very hard to find, and some clubs keep it undisclosed but this article lists the highest paid director in each EPL club:
https://www.theguardian.com/football...-guide-2016-17


Gazidis(£2.618m gross) came 2nd to Tottenham's Levy(£6m gross), but Levy's was due to huge bonus payments iirc. His base salary seems to have been around £2.8million.

Agnelli, Nedved and Mazzia all earned 400-450k each according to this article.
Paratici is rumored to get 1.5m as base salary.
https://www.calciomercato.it/news/31..._dei_dirigenti

Marotta seem to have gone from 1.5m net in Juventus to 3.5m net at Inter. That puts his gross base salary at 6m, highest in Serie A and EPL. But it's understandable considering his work at Juve and how desperate Inter are to mimic their success. They also have higher revenue than us and I doubt their 2nd guy earns nearly as much as Leo did.
https://it.eurosport.com/calcio/seri...20/story.shtml

[Jasper]

Originally Posted by Goodfella

Agnelli, Nedved and Mazzia all earned 400-450k each according to this article.
Paratici is rumored to get 1.5m as base salary.
https://www.calciomercato.it/news/31..._dei_dirigenti

This reeks Panama Papers.

Would be interesting to know the structures, tho. See how different styles are. Should bounce this at @swissramble - maybe he can come up with sth. Most of numbers available are creative accounting, I'm afraid.

NB! Not questioning your point here, just having a conversation. Our bill is likely to be one of the biggest. Gut says that's our style.

[Goodfella]

Originally Posted by Jasper

This reeks Panama Papers.

Would be interesting to know the structures, tho. See how different styles are. Should bounce this at @swissramble - maybe he can come up with sth. Most of numbers available are creative accounting, I'm afraid.

Andrea Agnelli is a board member of FIAT and Exor which also happens to be Juve's owners. I don't think it's a secret that he survives on more than just 450k gross a year. I'm sure they found a way to let FIAT pay for some of Nedved's salary as well.

Same goes for City/ADUG and a bunch of other clubs.

Doesn't matter though. What matters for FFP is how much they receive from the club according to the books.


Yeah, I'd love to see swissramble dig into this as well. Get updated figures, detailed comparisons, perhaps finding additional salaries from different branch of same parent company etc.
Or heck, just another post about Milan on their blog.

Originally Posted by Jasper

NB! Not questioning your point here, just having a conversation. Our bill is likely to be one of the biggest. Gut says that's our style.

lol, I appreciate discussions about this subject and I don't disagree about creative accounting playing a huge part. But I was looking at it mainly from the club's perspective rather than the owners.

[Jasper]

I think with Pep and Munich there was a legit question of Adidas contract. And with Man City as well obv. Did he also have Qatar with Barca?

[Goodfella]

Originally Posted by Jasper

I think with Pep and Munich there was a legit question of Adidas contract. And with Man City as well obv. Did he also have Qatar with Barca?

Don't know, but Qatar became their main shirt sponsor in 2011.
It wouldn't surprise me if he has received pay checks from Qatar since he joined Al Ahli in 2003.

[Boban1982]

It is massively corrupt and penalises the Italian clubs. Italian clubs must modernise with new stadiums and far better TV deals to have any chance.

Financial is not even close to being fair. For example Roma had to sell Salah for peanuts to Liverpool to meet financial fair play rules and teams such as PSG can pay £350 mil for two players. If you don't meet the guidelines the teams have to then pay massive fines. How will that help a club that is struggling to break even.

It is an absolute joke. If they start trying to ban the rich clubs from the CL such as City we will see these teams breaking away and starting their own competitions. Uefa need to fix this nonsense quickly.

[Boban1982]

Truly shambolic if true.

https://www.football-italia.net/1391...ver-five-years

[GAMilan]

This once-proud club is officially dead.

[Thenebra]

Originally Posted by GAMilan

This once-proud club is officially dead.

Its official!

[General]

Originally Posted by GAMilan

This once-proud club is officially dead.

How long have you lived in Atlanta?

Do you think your pessimism has something to do with your environment?

[mazen111]

Ancelotti: "Restarting Milan is not a simple matter"

" It is not easy to restart a company as big as Milan ." This is how Carlo Ancelotti spoke about the time of the Rossoneri after Marco Giampaolo's exemption and Stefano's arrival on the bench. As reported today by the Corriere della Sera , the Napoli coach gives the Rossoneri management confidence to get out of the negative spiral: " I believe that the current management has the capacity to do so"

And again: " Of course, there are psychological, physical, technical and investment problems" . In short, not easy stuff after the results of the first days of the championship.

[necromancer]

One of the better financial analysis of Milan's situation that I've seen recently: https://www.football-italia.net/1453...preparing-sale

Sounds logical.

Financial expert Luca Pagni suggests Milan’s record €145.9m losses are part of Elliott Management strategy to ‘clear’ the decks for a sale.

Eyebrows were raised when the club announced the balance sheet for the 2018-19 season had them running at an unprecedented loss.

However, the directors are not concerned and so MilanNews.it asked La Repubblica newspapers economic correspondent Pagni to explain the situation.

It is all part of the same strategy that saw the Rossoneri agree with UEFA to back out of the Europa League and try to wipe the slate clean in terms of Financial Fair Play.

“Considering the situation, they accelerated the clear-out of the balance sheet. If Milan had qualified for the Champions League, they would’ve had an extra €39m at least in revenue. With that money, everything would’ve changed and they probably would’ve decided to make a more conservative balance sheet, postponing this process.

“The big problem we see here is that the sponsorships have dropped and so has the overall revenue. So far, Ivan Gazidis has shown no progress on that front.

“On top of that, the cost of personnel has increased enormously with an extra €35m, a part of that going on the salaries of Gazidis, Leonardo and Paolo Maldini.

“So faced with this complicated situation, and the poor sporting results, they decided to accelerate the process by getting rid of all the dead weight in one go, including old contracts.

“I was frankly surprised Elliott didn’t do this in the last financial year, but as they had just arrived, it perhaps wasn’t possible. I am not saying that they will certainly sell in the short-term, but that evidently this is being done to make the club more appetising for a future buyer.

“Milan don’t have debts with banks, so in case of due diligence, the potential buyer would find a clean slate.”

Pagni also points out the Financial Fair Play problems could also be resolved with the aid of this ‘gap year.’

“If Milan qualify for a European tournament in 2020-21, they will aim for a Settlement Agreement and will be able to work out a plan without that €146m to consider in the next balance sheet.

“The positive for Milan fans is that they no longer have Silvio Berlusconi, who didn’t have any budget for the transfer market in the last few years. There’s no Yonghong Li, who at one point didn’t look like he could afford lunch and dinner on the same day.

“Elliott are solid owners. They are ambitious, according to them. Some have suggested it all revolves around the new San Siro stadium project and sponsors tied to that could enter into the club.

“I think it’s safe to say Elliott have something in mind, whether it’s a sale of the club or something to increase the revenue.”

Elliott Management were never meant to own Milan, but effectively repossessed the club when previous President Yonghong Li defaulted on payments for a loan he had used to purchase it from Berlusconi.

[joyrider]

I hope the new owners are ambitious.