AC Milan cuts financial losses in half despite pandemic

MILAN (AP) — AC Milan has cut its financial losses in half from last year. The club has reported a loss of $111.8 million for the 2020-21 financial year at a shareholders meeting. That compared to losses of $225 million last year. Inter Milan and Juventus both reported annual losses of more than $250 million last month. Milan has emphasized that in order to bridge the gap with the top European clubs it needs its own stadium. It is planning to build one with Inter.