During a meeting on Thursday evening, the Board of Directors at AC Milan approved the financial statements for the 2023-24 financial year. According to Calcio e Finanza, the Rossoneri will register a profit of €4.1m.
For the second consecutive year, Milan will register a profit and this is unheard of in Italy. According to Calcio e Finanza, the Board of Directors approved the consolidated financial statements for the 2023-245 financial year on Thursday evening, with a profit of €4.1m to be registered.
This profit will be presented to the shareholders at the end of October for the final go-ahead. The profit stems from an increase in revenue as Milan had their highest-ever revenue in their history at €457m (an increase of 13% compared to last season).
The increase in revenue is mainly linked to finishing second in the league – as opposed to fourth in 2022-23 – the capital gain from Sandro Tonali’s sale, the growing commercial revenue, premium tickets at San Siro and pre-season games (as well as the one in Australia).
There was a decrease in revenue from the Champions League, with less ticket revenue as well, and there were investments on the mercato (player costs increased by 8%, €11m, bet6ween wages, renewal and new signings). However, despite this, Milan managed to stay profitable and that is a huge achievement for Gerry Cardinale and RedBird.
This is the first step to building long-term success. I like the idea of using our money better than the other teams. That is the difference. I really like the fact that Gerry sees “Made in Italy” as premium, an idea that he wants to implement at AC Milan. In reality, we are the second most prestigious team in the history of the sport. I hope that they bring back this fallen titan.
So you like everything that is not related to football. Basically entertainment and consumerism. Brave new world.
I want to clarify that your assumption is incorrect. I’m a fan and I want my team to win. However, the reality is that we are taking a different approach compared to other teams, even though our team shows promise.
We criticize because we are emotionally connected to the team, but only time will tell whether the ownership’s strategies will yield positive results.
I don’t agree with everything they do. I also want the best players and coaches in the world, but there’s nothing wrong with developing them to a world-class level while winning.
Well it’s just a difference of opinion.
What you call “a different approach” is just how a Wall Street investment funds can squeeze the most ROI from a legendary football club by turning it into some Disney/McDonald’s experience to get more customers, I mean fans. Winning is obviously not the biggest concern when you hire Paulo Fonseca.
And he’s back……. Zero comment on the 3-0 win, nothing in the WatchAlong, but an article on finances appears and you’re all over it.
Yeahhh, #1 in Accounting for Sportsteams.
JERRY JERRY JERRY JEEEEEEEEEEERRY.
(Irony may have been used)
It is small, profit, cause they were telling profit will be 10 20.
It will be interesting what will happen after this year. Because there were no capital gain from player sales and team is much more expensive