The Italian giants are hoping to put their financial worries behind them after being bought out by US hedge fund, Elliott. The buy out is a result of Milan’s Chinese owners, Rossoneri Sport Investment Lux, failing to repay the clubs debt.
On Tuesday Elliott Management announced that they will inject €50m into the club to help stabilize Milan’s finances. The 18-time Serie A champions are expected to close the financial year with a loss of €75m.
AC Milan’s spending has already got them in trouble, leading to a two-season ban from UEFA competitions for breaching Financial Fair Play laws. Having spent over €200m on new players and paying high wages, Milan failed to reach the break even requirements of FFP.