Genoa president Enrico Preziosi says he's lost a fortune with the club.

Preziosi admits they'll need to sell players to balance the books.

"Over the last few years I have lost €140m and in a period of financial crisis in the country I am even ashamed to admit it," toy tycoon Preziosi told La Gazzetta dello Sport.

"It was my money and I spent it for the good of Genoa. However, the time has come for a change of approach. In the next two years we'll try to balance the books and to do that there have to be some sacrifices.

"When the big clubs enter the fray, it's difficult to keep up with them. Don't forget Diego Milito earned €1m per season with us and €5m at Inter."

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