[m1ke]

Milan Vice-President Adriano Galliani has today spoken to shareholders, revealing the Via Turati club to be £24m in the red.

The 63-year old who, since Silvio Berlusconi stepped down earlier this week, has taken the role of President in all but name, moved to reassure the Rossoneri's worried investors.

“To get the books back in order it would be enough to sell Kaka to Real Madrid for £55m,� remarked Galliani to the consternation of Milan's money men.

Shareholders are believed to be angry at the club's recent form on the pitch and in the transfer market.

According to a report in Italian newspaper La Stampa, some investors are unwilling to contribute money to this summer's transfer budget.

Galliani refused to accept all the blame, insisting that they were just as responsible for the Diavolo's current troubles.

“Last year they begged me to renew Dida's contract and adhere to the requests of Emerson, Cafu, Serginho and Favalli.�

Milan have been labelled an old side of late and criticised for not investing enough in young talent, Alexandre Pato aside.

But Galliani defended the Rossoneri's policy, saying: “Footballers are like cars, their condition changes year on year.�

The Diavolo have recently been heavily linked with troubled Barcelona forward Ronaldinho. The 28-year-old has been in limbo this year, but Galliani believes he can get back to his best.

“At the moment he reminds me of when he was at Paris Saint-Germain in 2003. I don't think he'd have a problem playing in the UEFA Cup either. Luca Toni has for Bayern Munich.�

[Rossoneri7]

It's not that it's a debt though is it?

How I understand it we've lost 24m this season. When you consider all the gate receipts, shirt sales, sponsors, etc. You'd think that was way more than enough to pay for our squad and the few players we bought in.  Even if you include the stadium things, there's no way we should have lost money this season!

How is that ?

oh doesent silvio has most of the shares ( i tought he had the whole club) does anyone know what is thepercentage  of investors

Yes, Fininvest owns AC Milan club. But like any venture, there has to be investors (mind you these are people who joined Fininvest since 1986). But Silvio has the bigger stake and AC Milan isn't listen in the Italian borsa, rather a part of Fininvests assets.

How I do is, maybe it's our running balance, which is 24m in red. Last year we posted a profit of 1 million which was divided between the share holders. This has nothing to do with our balance, which was probably still in red, and has been for some years. What this means is that if all the shareholders were to withdraw all their money, Milan would be short by 24 million pounds. This isn't as bad as it sounds, though we'll need to see the complete balance sheet and statements up till the current fiscal year for all this to matter. We don't know how much money is in reserve, and how much is set aside for transfers. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/unsure.gif)

It could have been much worse. Juventus is still short of millions, and last I heard, Inter's debt was swelling over 200 million nuggets. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) So basically, we're running lose for some change, and if this year's figures are posted, I reckon shareholders would suffer a loss for a few cents, for each share they own. No wonder, they're not up for throwing in new financing for buying new players. And honestly, I don't blame them.
Michael Jackson's is at 300 million. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) Frankly, it doesn't matter much for someone or something that's famous. They always do find a way. It's the average Joe that suffers.

True ... But then again, where are all these numbers coming from (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/blink.gif)

The club has a debt of around 20M ... It's normal, cuz of several things .. Milan has contracts with sponsors. These sponsors pay bonuses when their partners reach a CL semifinal or final, when their partner is competing for 1st place, etc ... Hence there are other factors that we are not familiar with.

[kurtsimonw]

How is that ?

What exactly have we done to lose money?

[Rossoneri7]

What exactly have we done to lose money?

Why do you have all of the fiscal data ?