AC Milan have recorded profit in their accounts for the first time in over 15 years, it has been confirmed, as well as record revenues.
According to Calcio e Finanza, the Milan Board of Directors of the met yesterday to discuss and close the accounts for the 2022-23 season, which ended with a positive net result of €6m.
The figure is a clear improvement compared to the red of over €66m last season. The budget will then be submitted for approval by the shareholders’ meeting, which will probably take place towards the end of October.
It is excellent news regarding the financial health of the club, given that a net profit had not been recorded since 2006, when the balance sheet (which at the time was set to close on 31 December) showed a profit of almost €2.5m.
From then on – between the Silvio Berlusconi and Yonghong Li ownerships – Milan had always been in the red, and only the work of Elliott Management (and now RedBird Capital) has put the club back on the tracks of sustainability.
It is a path that the club intends to further with the construction of a new stadium, for which the latest fundamental steps were taken yesterday in relation to the San Francesco area in San Donato Milanese.
The revenues in the 2022-23 season exceeded €400m (compared to €297m in 2021-22), thus setting a new record in the history of the Rossoneri.
The figure is driven by an increase in commercial and sponsorship revenues – up by €44m compared to the previous season – and by the excellent run in the last edition of the Champions League.
However, there has been no lack of investment by the owners in the squad itself, with the ‘rights to the players’ performances’ having increased by €50m compared to the 2021-22 season.
Finally, the consolidated net equity as of 30 June 2023 is positive for €177m, a significant increase compared to the balance of €131.23m as of 30 June 2022.
