AC Milan in record $220m loss , Latest Football News - The New Paper

AC Milan in record $220m loss

Italian giants AC Milan, struggling to recapture the glory days of seven European Cups and of their heyday under media magnate Silvio Berlusconi, on Monday posted a record loss of 145.9 million euros (S$220m) for 2018.

The losses, which were some 20m euros above 2017, will be covered by majority shareholder, US fund Elliott, which took over the Rossoneri last year after Chinese businessman Li Yonghong defaulted on a loan to buy the outfit.

Milan have totalled some 500m euros of losses over the past six seasons. - AFP

North Korea pulls out of football tournament in South

North Korea has pulled out of a December international women's tournament in the South, Seoul's football authorities said yesterday - weeks after Pyongyang hosted a surreal World Cup qualifier in a near-empty stadium.

The South's Football Association announced the North's withdrawal from the East Asian Football Federation E-1 Championship in the South's port city of Busan in December.

The North, ranked ninth in the world in the women's game, has won the tournament the last three times it has been held. - AFP

Jaap Stam quits as Feyenoord boss

Jaap Stam has stepped down from his role as Feyenoord coach after less than five months in charge, the Dutch top-flight football club have said.

Under former Manchester United defender Stam, who took over from Giovanni van Bronckhorst in June, Feyenoord have won just three of their 11 league games this season, leaving the Rotterdam club in 12th place.

His last match in charge was a 4-0 defeat by Ajax Amsterdam on Sunday.

"It certainly has not been an easy decision," Stam said in a statement. - REUTERS