AC Milan has made achievements in the financial aspect. Il Rossoneri closed the year 2022-2023 with a profit. For the first time in 17 years or since 2006, AC Milan’s financial report book was able to record a profit again. The profit achieved by Milan in 2022-2023 is 6.1 million euros.
“Combining performance on the pitch with financial stability in football is possible,” said AC Milan President Paolo Scaroni. “The approved financial report is proof. This marks an important step in the club’s history by returning to net profits after 17 years,” he said in a release.
The shareholder meeting on October 23, 2023 approved the financial report presented by the club’s board of directors on September 27. Milan could achieve a profit of 6.1 million euros without contributions from capital gains resulting from player transactions. That compared to losses of 66.5 million euros (then $66.7 million) last year, which had been reduced from the previous season.
The green note in AC Milan’s financial report may have occurred because the club, aka Il Rossoneri (The Red and Black) recorded revenue of 404.5 million euros ($431.4 million) — about 100 million more than last year. The nominal income increased by 36 percent compared to the 2021-2022 season, a new record in Rossoneri history. This revenue growth was largely driven by income from an increase in sponsorship value of 44.4 million euros and broadcasting rights of 41.8 million euros.
Milan’s success in reaching the semifinals of the Champions League last season was closely related to the increase in the team’s income from broadcasting rights. Milan also saw growth in match ticket sales, namely 40.3 million euros.
“We are heading towards an important chapter in the evolution of the club’s development, supported and realized by the strategic vision of Gerry Cardinale, experts from RedBird, the competence and determination of the entire management team led by CEO Giorgio Furlani, as well as the talent of the team, which will continue to amaze and entertain the fans,” said Paolo Scaroni. “This marks an important step in our club’s history with a return to net profit after 17 years.” he added.
