AC Milan may have reduced salaries by some €60 million this season, but the club still spends more on wages than any other in Serie A, Italian newspaper La Gazzetta dello Sport reported.

The departure of Thiago Silva and Zlatan Ibrahimovic, along with the retirement of veterans Filippo Inzaghi and Massimo Oddo, mean the club has earmarked €120 million on wages this year, down from €180 million last season, the paper said.

Brazilian striker Alexandre Pato is its the best-paid player with a €4 million salary.

Milan’s cross-town rivals Inter also slashed their wage outgoings of €140 million by €40 million this season after Julio Cesar, Lucio, Maicon and Diego Forlan were sold.

Recently promoted minnows Pescara have the smallest salary fund in Serie A at €10.8 million.

Serie A best-paid players include Gianluigi Buffon, who is about to extend his deal with Juventus, Roma’s Daniele De Rossi and Inter’s Wesley Sneijder, each of whom get €6 million a year.

The total salary fund of Serie A clubs in the current season amounts to €866.3 million.