AC Milan loss deepens as return to former glory remains elusive

FILE PHOTO: Soccer Football - Serie A - AC Milan v Lazio - San Siro, Milan, Italy - April 13, 2019 General view outside the stadium before the match REUTERS/Daniele Mascolo

MILAN (Reuters) - Falling revenues and rising costs pushed AC Milan deeper into the red last year, according to a financial statement seen by Reuters, as the former European soccer champions struggle to keep pace with rivals off the field as well as on it.

AC Milan, seven times winner of the European Championship, has been stuck in a mid-table rut for several years. Owner U.S. activist fund Elliott Management has been trying to get the club back into shape with an eye on a future sale.