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 Milan in the red |
 Apr 25 2008, 02:41 PM
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#1
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Administrator  Group: Admin Posts: 4,291 Joined: 1-July 05 From: London Member No.: 1  |
QUOTE 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.†|
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Apr 25 2008, 02:44 PM
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#2
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Administrator Group: Admin Posts: 4,291 Joined: 1-July 05 From: London Member No.: 1 |
Hmm.
A loss of £24m is pretty large considering we haven't exactly been active in the transfer market. I'm not really sure what this all means - the article isn't very clear. I'm guessing it's the loss for the 07/08 season. If it is, it will only confirm the fans opinion that going after the World Club Cup was not a good move (in economic terms anyway). If we miss out on the CL next season, I'd hate to see how much we'd lose then! |
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Apr 25 2008, 02:52 PM
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#3
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Berretti Group: Helpers Posts: 11,735 Joined: 5-September 05 From: Portland Member No.: 347 |
When you've an old squad with some "old-legends" of the game earning zillions and playing shite with no motivation or always injuried this happens.
I'm not surprised. |
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Apr 25 2008, 02:58 PM
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#4
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Administrator Group: Admin Posts: 4,291 Joined: 1-July 05 From: London Member No.: 1 |
Don't hold back Porty. Tell us how you really feel (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/wink.gif)
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Apr 25 2008, 03:00 PM
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#5
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Token Girl  Group: Moderators Posts: 12,435 Joined: 13-November 06 From: Washington, DC Member No.: 2,800 |
The actual financials are supposedly going to be posted on Fininvest's website in coming days. I'm curious to take a peek at them.
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Apr 25 2008, 03:09 PM
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#6
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'the Duck' Group: Helpers Posts: 1,234 Joined: 12-August 05 From: Kosova Member No.: 144 |
If these losses are from 2007 year, then I have doubts they're correct.
We didn't spend much, and we won C.L. ... maybe there weren't many tickets bought during the year. And if we had losses until now.... next year if we miss C.L. we can only go worse and become a selling club during the summer and sign only free-transfer players. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/rolleyes.gif) |
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Apr 25 2008, 03:11 PM
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#7
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'the Duck' Group: Helpers Posts: 1,234 Joined: 12-August 05 From: Kosova Member No.: 144 |
QUOTE “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. pretty 'smart' (joke) solution! (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/cool.gif) QUOTE “Last year they begged me to renew Dida's contract and adhere to the requests of Emerson, Cafu, Serginho and Favalli.†You see, I always knew Galliani wanted Buffon. He was only 'forced' to renew Dida's contract. (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/laugh.gif) This post has been edited by redbabies: Apr 25 2008, 03:13 PM |
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Apr 25 2008, 03:18 PM
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#8
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Prima Squadra Group: Moderators Posts: 39,627 Joined: 6-January 06 From: Malta Member No.: 1,109 |
How can we even be in the red when we haven't spent any decent money in years? (aside from Pato that is)
as porty said, solution is simple, get rid of the guys who aren't even of any worth to Milan that are being paid ridiculous ammounts of money for being either constantly on the bench or on the treatment table. And if he were really to sell Kaka, I would pay to see the tifosi go after him with forks and fire. |
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Apr 25 2008, 03:23 PM
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#9
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Berretti Group: Helpers Posts: 11,735 Joined: 5-September 05 From: Portland Member No.: 347 |
QUOTE (Tennie @ Apr 25 2008, 03:00 PM) The actual financials are supposedly going to be posted on Fininvest's website in coming days. I'm curious to take a peek at them.  Yay me too. |
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Apr 25 2008, 03:47 PM
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#10
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Esordienti A 95 Group: Full Members Posts: 513 Joined: 31-August 06 From: England Member No.: 2,418 |
oh doesent silvio has most of the shares ( i tought he had the whole club) does anyone know what is thepercentage of investors
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Apr 25 2008, 03:47 PM
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#11
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Esordienti B 96 Group: Full Members Posts: 439 Joined: 13-April 06 Member No.: 1,612 |
QUOTE (han2503 @ Apr 25 2008, 10:18 PM) get rid of the guys who aren't even of any worth to Milan that are being paid ridiculous ammounts of money for being either constantly on the bench or on the treatment table. Agreed. I knew Emerson earn a handsome pay but who else earn that blood money? Brocchi?Favalli? (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/unsure.gif) This post has been edited by Devillito: Apr 25 2008, 03:48 PM |
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Apr 25 2008, 03:59 PM
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#12
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Token Girl Group: Moderators Posts: 12,435 Joined: 13-November 06 From: Washington, DC Member No.: 2,800 |
The budget is for calendar year 2007, fyi. Detailed financials still aren't up but one significant unbudgeted expense that happened in 2007 was the necessity to pay for half of the security upgrades around the San Siro after the Catania riots. The city of Milan owns the stadium, but the clubs paid for the upgrade.
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Apr 25 2008, 04:43 PM
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#13
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Allievi Regionali B Group: Helpers Posts: 5,148 Joined: 5-October 05 From: Bristol Member No.: 558 |
Further proof, if needed, that Galliani should step down and let someone younger(Leonardo (IMG:http://cyrus.medialayer.net/~m1ke/milanfan.com/forums/style_emoticons/default/cool.gif) ) take charge.
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Apr 25 2008, 04:44 PM
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#14
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Allievi Regionali B Group: Helpers Posts: 5,148 Joined: 5-October 05 From: Bristol Member No.: 558 |
QUOTE (Tennie @ Apr 25 2008, 02:59 PM) The budget is for calendar year 2007, fyi. Detailed financials still aren't up but one significant unbudgeted expense that happened in 2007 was the necessity to pay for half of the security upgrades around the San Siro after the Catania riots. The city of Milan owns the stadium, but the clubs paid for the upgrade. surely the upgrades weren't that much? And the bill should have been shared between the merde and us making it smaller. |
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Apr 25 2008, 04:53 PM
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#15
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Token Girl Group: Moderators Posts: 12,435 Joined: 13-November 06 From: Washington, DC Member No.: 2,800 |
Well, they had to do emergency temporary upgrades so the respective clubs' Euro games could happen (CL quarters). Then they put in the permanent stuff over time. I'd estimate the total cost (and I could be WAY off) at somewhere around 20-25 million euros, half of which'd be Milan's. That's a significant part of the deficit (though I'm very curious to see what the rest is).
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