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The AC Milan shareholders’ meeting will take place at the Casa Milan headquarters at 10:30 am and will approve the 2021-22 financial statements. At the end of the aforementioned meeting, there will also be a question time dedicated to the press in which the Rossoneri president will participate Paolo Scaroni.
10.16 – We remind you that, as has already emerged, the loss of the consolidated financial statements is equal to -66.5 million, in continuous improvement compared to the 2020-21 budget which showed a negative value of 94.6 million.
10:30 am – Punctually, the shareholders’ meeting chaired by Paolo Scaroni begins and opens the meeting. There will be the ordinary part regarding the approval of the financial statements, but also an extraordinary part that will concern the amendments to the statute which are aimed at making it easier for RedBird to participate in the shareholders’ meetings. These are technical-bureaucratic changes.
The members of the BoD who are not located in Milan are justified absent. Present in the room Ivan Gazidis.
The highlights:
AC Milan’s financial statements closed with a loss of 92.3 million, an improvement on the 97.9 million.
Shareholders’ equity was positive for 137.5 million
AC Milan’s consolidated financial statements closed with a loss of 66.5 million, an improvement on the 96.4 million.
Auro Palomba, president of APA, took the floor.
What does Cardinal mean when he says that society must be shaken. What do you mean?
Scaroni: “We have a shareholder who, in the interests of AC Milan, wants to make the most of his team’s skills. They are 7-8-9 sports professionals. I believe that AC Milan can benefit, on all fronts, from this shareholder that we brings a range of skills that we did not have. We are all very optimistic to have a new phase of growth of the brand, of the club and of everything we do. I am confident that we are living now, after that of recovery. “
Thanks to Ivan Gazidis for his work as the club’s CEO. Has the majority shareholder identified the next CEO and if the rumors about Furlani are well founded?
Scaroni: “The professional decisions that Ivan will make depend on him. I thank him for what he has done for Milan and for the relationships we have had. It is easy to be club president when you have someone like Ivan by your side.”
On arbitration wrongs, will we continue to use a low profile or will we change strategy?
Scaroni: “I will never protest for refereeing because I think it is useless and counterproductive. I think that, in the long run, mistakes will compensate for each other. I think that, in the end, we have had race directions that have not favored us and others that perhaps will come. from ours. When Serra does not score with Spezia, our players went to console the referee. They did it spontaneously and I think it is the style that Milan must always have. But this is my thought. “
We wanted to understand if, in the AC Milan balance sheet, there is still the possibility of participation in the SuperLeague?
Scaroni: “For us it is set aside. Those that are not set aside are the problems. I hope that the various problems that affect European and Italian football will not be set aside. We hope that UEFA will take care of finding solutions to these issues.” .
Is there a possibility that the stadium can be built on its own?
Scaroni: “The public debate is underway, which is a procedure that is rarely applied that is used for projects that are carried out on public land and for investments above 300 million euros. It seems to me that it is progressing quite well, there are some observations that are made by the residents. I hope to have an answer by early November and I hope that this process will help to simplify the appeals to the TAR and that the judge will look at them in a more benevolent way. In parallel we will not give up other alternatives. San Siro is done with Inter, because they would not give the ground only to us. I do not feel Inter financial difficulties on the San Siro issue. An investment of this type is fundamental to create value for all the clubs. if we have the authorization for the San Siro, we will do it with them. We are working on other hypotheses, because we are not satisfied, and we can open up other solutions for them, even to do it ourselves. We are open to other hypotheses “.
Relations with the fans. What is the strategy and objectives of the new property, both in Italy and globally?
Scaroni: “Milan have around 400 million fans around the world who, unfortunately, are getting old. Because if we don’t do well in the Champions League at some point we will only be 90. We need to feed them with good performances in the Champions League. Matches like yesterday give me. hope for the future “.
Filippo La Scala, also from APA, takes the floor:
We wanted to know if the new majority shareholder has given indications on the revenue strategy?
Scaroni: “We will soon renew the contract with Emirates. But the trend is positive as the new sponsorships show”.
The settlement agreement with UEFA: does the club consider it complex to match the objectives or will this obstacle be easily overcome?
Gazidi: “It is an important issue for us, but I am sure that we will come to respect the established path”.
Does the new shareholder imagine if the company can go public, becoming a public company?
Scaroni: “It is not up to us, but I have never heard the shareholder speak of such a thing. Indeed, if it depended on me, I would say no given the unhappy path of Italian companies listed on the stock exchange, with Rome delisting “.
11.18 – The AC Milan extraordinary meeting opens regarding the amendment to the statute
In essence, the possibility of carrying out board meetings via video conference is added which, in the current statute, was not envisaged.
