AC Milan’s financial situation continues to improve and thanks to the success on the pitch, that journey has been accelerated. The numbers have arrived for the 2021/22 season and they are indeed positive.
Ever since Elliott Management took over the club in 2018, the main focus has been to decrease the costs while still remaining competitive on the pitch. It’s safe to say that the hedge fund, which sold Milan to RedBird earlier this month, succeeded.
The costs are nowhere near where they were a few years back and Milan are in their best period sporting-wise in over ten years. As reported by Calcio e Finanza, the club will close the accounts for 2021/22 with a loss of €66.5m, which is €30m less than last year.
Revenues increased by 14% compared to the previous season, thanks above all to the Covid restrictions being lifted (allowing more ticket sales). The Scudetto win and Champions League prizes also helped.
The net result was thus -€66.5m, compared to -€96.4m in 2020/21 and -€194.6m in 2019/20. In other words, Milan are certainly moving in the right direction.