Marco Fassone continued with Milan’s new line of full transparency and answered the questions of the Minority Shareholders during today’s assembly, discussing several interesting topics.
Milan’s shareholders gathered today (Monday) to approve the budget for the first half of 2017 (January to June).
After the general assembly, there was a meeting between CEO Marco Fassone and AC Milan‘s Association for Minority Shareholders (APA). Former Rossoneri VP Adriano Galliani used to completely ignore the questions of the APA, but instead Fassone took the time to answer the questions of the minority shareholders and he touched several points.
According to Milannews.it, Fassone, who has been at Milan since April, noted that ‘the day-to-day management at the club has improved’, saying ‘in these first months data has been very good: there have been improvements in revenue, liabilities, player management and savings on emoluments.’
Fassone also claimed that the club ‘expects to break-even in the third year of the management’ and added that ‘there is satisfaction’ regarding the Voluntary Agreement for the presented plan, which was very detailed. Fassone met with UEFA representatives on Thursday as Milan are hoping that the agreement, which would allow the club more flexibility regarding FFP, can be accepted. Fassone told the APA that there is ‘great confidence’ even though they are aware that they’re the first club to ask for this deal, and the decision, which may not be purely economical, will arrive by Christmas.
The ex-Inter and Juventus director said that ‘the challenge is bringing Milan into profit and it is necessary to increase revenue. There is an option of listing the club in the Stock Exchange market in 2020.’ Fassone made it clear, however, that Milan’s revenues this year are higher than in the previous year. There are five categories of revenue: TV rights, a commercial part that has a positive trend with six new sponsors, revenues from the stadium, from UEFA with the Europa League and the last part that concerns China is a bit behind due to the fact that bureaucracy is slower there.
Fassone told the APA that while there is nothing new with Adidas and Audi (the partnership with Audi already ended and the one with Adidas, after over 20 years of working together, will cease to exist at the end of the season), ‘new sponsorship deals’ will be announced in the coming months.
Fassone is also said to have confirmed to the APA that Puma, who are the sponsors of Italy NT, will replace Adidas as the club’s kit manufacturers, noting that ‘the new technical sponsor has been found and the contract is already ready. It’s lower economically with respect to the previous one but very satisfying. It is better than Adidas in terms of the variables and bonuses, which are tied to the sporting and commercial results of the club. At the start of 2018, the name will be announced.’
The situation of the stadium was also addressed, with Fassone saying that there is conviction on the part of Milan to have their own stadium ‘in the medium-term’, a stadium that is not shared with Inter. ‘The preference remains [to stay at] San Siro but the Nerazzurri also want it’. Milan are doing research to find the most suitable area, also taking the fan’s preferences into account. In addition to having their own stadium, Milan are also planning to do the TV production for their matches on their own.
Regarding the mercato, Fassone apparently made it known that the club does not intend to make moves, unless it is absolutely required due to injuries. As for the issue of a ‘top player’, in case a player like that is found functional, it will be assessed whether to sell one of the current top men to get another. A top player will therefore not be sold regardless, but instead it’d be a technical call.
Fassone also said that at first it was thought that 71-72 points would be enough for Champions League but now it seems more difficult, even though they are not excluding this possibility.