meeting in Nyon on Financial Fair Play!

AC Milan, represented by its CEO Ivan Gazidis and by Elliott’s portfolio manager and Milan director Giorgio Furlaniwas heard by the UEFA Club Financial Control Body commission on the development of online accounts for Financial Fair Play.

The two managers allegedly presented an extensive and detailed report based on the documents requested of AC Milan by UEFA for the examination of his case. From the documents presented an improvement trend would emerge in all the club’s corporate indicesengaged in a virtuous path that is leading Milan to a gradual and growing financial equilibrium, such as not to require the injection of equity.

Gazidis Nyon UEFA

All this took place not only thanks to the guidelines that Milan and Uefa had agreed in the Consent Award of 28 June 2019 but also for the mission that the owners set themselves to restore the club to sporting competitiveness in compliance with financial sustainability which in fact, it is taking place.

Gazidis and Furlani showed the Uefa managers how Milan managed to significantly reduce their lossesto raise revenues despite the devastated impact of the pandemic that deprived the club of stadium revenues and an overview of a real expansion towards new brands and new markets that has nothing to do with the infamous plan that was presented by Fassone to obtain the voluntary agreement, duly rejected by the CFCB.

The CEO and the board left the hearing with UEFA with moderate confidence given that the Rossoneri worked in a “para” settlement agreement, respecting the stakes and never making a move – in particular on the market – which was not in line with the parameters to be respected. Uefa’s decision should arrive in the coming weeks, which will hardly fail to appreciate the positive trend of the Rossoneri and the seriousness with which the owners and management have worked up to now to restore the club to health..

Francesco Scanu

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About Banner Leon

Videogames entered his life in the late '80s, at the time of the first meeting with Super Mario Bros, and even today they make it a permanent part, after almost 30 years. Pros and defects: he manages to finish Super Mario Bros in less than 5 minutes but he has never finished Final Fight with a credit ... he's still trying.

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