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Italian soccer team AC Milan has reportedly lost a total of $300 million the past three seasons.
According to Calciomercato.com, “The reason for AC Milan’s quiet January transfer window has been revealed and it does not make happy reading for the accountants. The Rossoneri’s financial records from 2015 to 2017 show a loss of €250M ($307 million at today’s exchange rate); a colossal amount compared to Uefa’s ruling that the permitted limit should be no more that €30M.”
The losses of the past three years would bring AC Milan’s aggregate net losses since 2005 to about $700 million, or an average of almost $40 million a year.
But that deal reportedly fell through because AC Milan was “unwilling to meet Highbridge’s demands for a refinancing deal.”