AC Milan: losses reduced to €6.9m in 2012 due to lower wages

AC Milan has announced a net loss of €6.9m for the 2012 calendar year at the club's general meeting on the 22/04/2013.

The club's losses are almost ten times lower than in 2011 (€67m, which was 4.5% less than in 2010, €70m).

AC Milan vice-president Adriano Galliani says the dramatic decline by reducing the payroll of the club, "In 2013 I expect to save a further €40-50m on wages."

"We paid for Ibrahimovic and Silva’s wages until August. The players who were out of contract were paid until June. Pato’s sale allowed us to sign a younger player than Tevez: on a patrimonial level, it’s better to have Balo"

"If we had sold Pato in January 2012 than Tevez would have come and we would have probably won the league. However with Pato’s departure this year, we have managed to buy Balotelli which probably is a better signing in hindsight as Mario is a much younger player."