18 May 2017
After Thursday's shareholder's meeting, the Red and Blacks' CEO spoke to Milan TV about the future plan of the club
During today's meeting, Marco Fassone spoke with the shareholders introducing the club's plan for the future investments. The Red and Blacks' CEO was then at Milanello where he spoke to Milan TV touching on the several topics that were discussed with the shareholders. These were his words:
ON TODAY'S SHAREHOLDER’S MEETING
"I had the pleasure of spending some time with the shareholders today and also of speaking with them after the questions that were raised during the meeting. I wanted to reassure and somehow inform those who attended the meeting that we will make significant investments during the 2017/18 season because we need to strengthen the squad and be competitive as soon as possible, as we have already said on several occasions. This implies that the balance sheet won't be the best possible in the next two financial years because, like every other company which is in some way starting over, we need to invest. I think the shareholders agree with this".
THE NEXT FEW YEARS
"Everyone, starting from the new ownership, the new management and the shareholders, want the team to perform well on the pitch but also to have a solid and financially healthy club. Of course, it's not going to be that easy, especially in our country where lots of clubs have shown losses even when they were winning. We have to try to combine the two things. Our mission is to achieve financial health in three years and be back at the top. But for us, today, it was important to demonstrate to our shareholders the fact we need one more year of sacrifice and hopefully this will lead to a positive year on the pitch".
"I spoke about this also with the Mayor of Milan in a meeting we had approximately ten days ago. The Club is planning on some changes. It will be important to have a political dialogue to determine whether we will stay at San Siro or move to a different stadium. At the same time, I wanted to reassure our shareholders that even though AC Milan doesn't own the stadium and shares it with Inter, this does not mean the stadium cannot actually be improved.
We have to work on the infrastructure, give life to the whole project, but most importantly we need to bring back the fans. AC Milan used to have a very high average attendance but in the past year this has fallen off. It's our job to give back to our fans the right motivation and have them have faith in the club again, entertain them and hope that both the team and the club - financially speaking - will benefit from a full San Siro.
"There has been a reduction of the first team's wage cap, particularly this season, which has coincided with the Club not achieving great results. We feel that by adding more quality players to the squad the budget for wages can and actually will increase in the upcoming years. I, though, have reassured our shareholders that we will keep our wage cap under review as we are aware of the UEFA rule which states that a certain percentage of the club's income is to be used to cover the first team's wages, and we will abide by that rule".
Share your cheer and your passion for AC Milan