AC Milan suffer record €126 million annual losses

Latest financial report shows Italian soccer giants have lost €730 million in last 14 years

AC Milan have announced record losses of €126 million (£111m/$146m) for the 2017-18 financial year.

The club's latest statement shows a €53m (£46m/$61m) drop on the previous year and brings the club’s consolidated losses over the last 14 years to over €730m (£639m/$845m), with €460m (£403m/$533m) of that total accounted for in the last five years.  

Milan published half-year accounts earlier this year which showed a six-month loss of only €22.3m (£19.5m/$25.8m) against €39.3m (£34.4m/$45.5m) for the same period 12 months earlier.

source; Goal.com