AC Milan losses about €89 million last year

Baku. 29 April. REPORT.AZ/ AC Milan have recorded a loss of €89.3 million over the financial year 2015, with holding company Fininvest vowing to cover the deficit in its entirety.

Report informs, the Serie A outfit spent big in the transfer market ahead of the 2015-16 campaign, with the signings of Alessio Romagnoli, Carlos Bacca, Luiz Adriano and Andrea Bertolacci costing in excess of €80m.

But their investments have yet to pay off as they currently sit sixth in Serie A.

"Milan announced a loss of €89.3m over the financial year 2015 at Thursday’s shareholders' meeting at Casa Milan," a statement on the club's official website reads.

"Holding company Fininvest will cover the loss entirely."