CIES: Milan and Juventus shown up by Inter with financial transfer record in past five years

By Euan Burns -

AC Milan and Juventus have fallen far behind Inter when it comes to making money in the transfer market over the past five years, a report claims. 

A study from the CIES Football Observatory (via has found that Juventus and Milan are the two teams that have lost the most money in the transfer market in Serie A over the past five years.

It is commonplace for the biggest clubs to rank poorly with this metric given they do not tend to sell players for more than they were brought for, as they have greater revenue streams from elsewhere than other teams.

That is exhibited by the likes of Sassuolo, Udinese, Atalanta and Empoli having the most profits in the past five years. The model of those teams is to produce/buy players that will be sold for entire or partial profit further down the line.

That being said, Inter have done a far better job than Milan and Juventus. The Nerazzurri have lost €19m in the past five years, whilst Milan have lost a whopping €205m. Juventus have lost even more; €220m.

It is further evidence of how well Inter director Beppe Marotta has managed to do in the transfer market in recent seasons.

Tags AC Milan Inter Juventus


  1. Who you put in charge of your project, club, team is just as, IF not more important than what players you sign.
    Marotta is best in the business.
    Inter have literally been something that some Milan fans accuse Milan of being because they sold one player last summer, a selling club. Some of their best players were sold over the last 5 years and yet they are still the most successful Italian club since 2020. 2 scudetti, 2 Copa Italia 🏆, 3 supercopa 🏆, 2 European finals.
    Elliott/RedBird biggest mistake during their ownership at Milan is that they never hired qualified, experienced, competent person to run their sporting department. Be that Paolo or now Moncada would have benefited greatly if they worked for 5,6 years alongside someone experienced.

    1. Very, very good points! They sold Lukaku, Hakimi, and counting.

      At the same time, you have to question why after all this success (and credit to them, deserved), why they are on the brink of being taken over for peanuts by a vulture fund that makes Elliott look like Little Red Riding Hood. And why even after all this sustained success and almost winning the UCL and selling top talent, they are literally bleeding to death. Their sporting project is fantastic, but it’s amazing and baffling at the same time that after all that success they are still screwed. Hoping they sink soon and fast.

      1. I don’t think that they are screwed. Their debt is lowering every year because they sell their best players for a lot of money and they are replacing them with free agents and cheap signings. Plus going far in the European competitions brings you a lot of money too. They are about to receive another 50 mil just for participating in that FIFA international cup that will be played in US over the summer with 50 mil already guaranteed just for participating.
        Another sale over the summer is definitely expected. Taremi and Zielinski are already signed as free agents. A forward or a midfielder is getting sold over the summerm

        1. I hear you and good point. At the same time, most people who follow Serie A and say even Lele Adani who is a former player and big interfan, agree that Inter is far weaker on a players basis now than it was under Conte. Speaks to Inzaghi’s masterclass. But If the valuation of your team keeps getting weaker by the year (even if performing/over performing – credit to their sporting project) the math of monetizing players runs into big trouble. E.g. Taremi and Arnautovic won’t sell for 120M.

        2. Debt lowering? And the interest of their debt is increasing each time they postpone the payment. This will not end well and I for one cannot wait it to happen already.

    2. What were our financial restrictions over the past 5 years in capital expenditures and operating costs. Do opwrating costs with us vs them and you might see something grossly different.

      Look at our highest earning player. Leao would be 5th on their list.

      I keep coming back to spending a little more on the operating cost of your salaries when you’re winning means not having to shell out extra on capital.

      Bringing in players for free and them having success is huge. (Marcus Thuram).

      There is always a give and take and we’ve run with constrictions and still created a successful team that won the Scudetto.

    1. Right. Bringing the club it’s first Scudetto in a decade and have them back in Champions League every year. Really, just a terrible job they have done. You have a very short memory.

  2. MONEYBALL MONCADA already working his magic.

    A few more seasons of moneyball signings and we’ll be hoping for a Conference League spot.

    PS. Article failed to mention that Moneyball Moncada signed over 120mil worth of players this year.

    Moneyball Man: 120mil – Reijnders, Chukwueze, Musah, Pulisic, Terracciano, Pellegrino (also Okafor & RLC were slated to be signed under Maldini anyway)

    — aside from Pulisic & RLC, have any of these players values gone up?

    the majority of the signings are FODDER at best.

    Maldini (21/22): 93mil – Maignan, Tomori, Tonali, Adli, Ballo Toure

    — nearly all these signings became solid players, in fact the first 3 players are top 10 in the position in the world.

    — all players have gone up in value significantly except for Ballo Toure.

    — Also, in the past Maldini signed Leao and Theo, arguably our two best players.

    Moneyball Moncada has done very very poorly. Very poorly.

    I’m watching him tear Milan apart thanks to some random poorly designed algorithm on moneyballing – and now Milan is in free fall.

    1. The article is about making money in the transfer window aka selling players.
      Again, how much money did Maldini get for Kessie, Romagnoli, Hakan, Donnarumma?
      Was is zero or nothing?

      1. Maldini was given instructions not to sell and try to renew. They thought the could keep all the players with lowball offers.

        Furliani was convinced Taremi would accept 1.8 million for 3 years, didn’t want to offer more last 3 days of the window. He thought Thuram would not go to Inter if he didn’t match their offer. This dude had the last say over Maldini and his stupidity is clearly evident. He had a lot of infleunce over Elliot. Alot of the nonsense you blame Maldini for comes from calls that Furliani and Bean made.

        They sold CDK at a loss after 1 year. They didnt want Tonali, Ibra Bennacer, Theo and Leao. Maldini had to force and twist their arms to get a sanction for those signings.

        1. Interesting. Were you part of the meetings where Maldini was given those instructions?
          Did they also give him the same instructions when it came to selling Piatek and Paqueta a year later for a loss? You remember those sales, or you only remember CDK, for who, including with bonuses and percentage of resale they would get all the money back invested.
          Wasn’t Maldini also convinced just like Furlani that Donnarumma, Hakan, Kessie, Romagnoli will renew before they moved on without Milan getting anything back?
          Maldini incompetence set Milan back, no matter what false narratives his fans wanna push. The facts of Maldini stupidity are all out there for all or us to see.

    2. I notice you didn’t mention the great Maldini signings of Bakayoko, Dest, Vranckx, CDK, Origi, Manduzik, Pellegri..etc.etc… And letting our high value players leave for free time and time again.
      This year’s signings have already far exceeded the production of previous 2 years of signings.

      “Milan is in Free Fall” haha. Improved over last season and comfortably in third right now.

      1. I see you forgot to mention that he did all of itnon a shoe string budget.

        My God. What they put together in under 4 years was truly brilliant.

        1. What you fail to realize is that the budget would have been much bigger if we didn’t let our valuable players leave for free time and time again. That’s the whole point.

          1. The main point is that regardless of who Maldini signed and how those players did, it was basically no different than the “money ball” this dolt Meez is complaining about. It shows zero understanding of what “money ball” is anyway. What Elliott/Maldini did and what Redbird are doing, basically boils down to the same thing: finding raw talent or undervalued veterans, bringing them in at a low cost and putting them on the pitch to perform. The whole idea is “bang for the buck”. So whether it’s Maldini’s “magic 8 ball” or whatever, or “money ball” the end game is the same. But some people want to blame Redbird or Americans or “Moneyball Moncada” for doing something strange. It’s like Moncada has become a witch or something. Also, these idiots forget that Moncada was still the one scouting and recommending players to Elliott/Maldini. Maldini and Massara were then the ones who went and made the deal happen, after consulting with said Moncada and his scouting team, and the ownership to approve the budget. It’s how football clubs work. There are scouts who find players, directors who then pick out the ones they want to go for (hopefully in consultation with the coach), and get the approval and funding from the owners. They all work together.

          2. They forced him to try to renew to the end and didn’t want to increase his wage budget. They cut it, then when he left, increased it by like 40 million. The amount he would have needed to keep all the players they tried to force him to renew at the end, without giving him money to make fair offers to them. That is all Furliani, Elliot and Bean’s doing, not on Maldini.

    3. Settle down, you plank. We’re debt free, invested over €100 million on players and another €40 million on land. What are you complaining about?

  3. Calm your tits everyone. This article doesn’t mention anything about salaries. Yes inter were better at selling their valuable players and finding proper replacements, but our circumstances were and are different from theirs. We were at the bottom of the pit ( financially speaking) we had to rebuild everything from our players, to standings, dont forget uefa restrictions. In those 5 years we overcame all those obstacles and are in much better shape to build our own stadium, means higher revenue = better players. With a few tweaks, next year we’ll be better than inter on the field and off the field.

    1. Haha, this people blaming maldini and mocanda for their transfer policy yet fail to notice that the source of all trouble they both have. And thats is developing their team. They fail developin all stars they bought, wich is largely because milan have mediocre coach. And thats my friend lead to underachieving team and droping their market value.

      I heard what marotta did first when came to inter was they make sure inter had a coach that can developing a team and suit with their system. Thats the only first step they did before they enter player market.

      Tbh, they bought fastastic player, but somehow they did realize the man they choose to manage a team is not really competent

  4. Another misleading headline from journalists, they are so predictable, they sow discord and decieve people, fathers of lies

      1. They are telling a true fact about money gained through player sales, but they are pushing a wrong narrative, misleading, the overall aim of a club is to make profits, money comes from many channels, not only player sales, overally ac milan has been making more money than inter and ac is in green, inter in red, and when a team is making more money through other channels, it doesnt need to sell its top players, so they picked a true fact to mislead and give a certain narrative, that on its own is lying, clubs compete to make profits and to win, they dont compete to sell big players, thats where im saying the article is misleading and sowing discord among fans

        1. “they dont compete to sell big players, ”

          Inter has sold Hakimi, Lukaku & Onana. Bayer München keeps selling their players (mainly to Real) etc.

          1. You dont get my point, big clubs aim to make large profits and at the same time keep their star players and win trophies, they dont compete to see who is selling star players the most, that is done by smaller ckubs who cant make money by any other means, juve has very good sponsorship deals, its own stadium, and has been a serial serie a winner, why would you expect it to sell more star players than inter, ac has managed to lower its debts over the years and started making profits, yet you still expect it to sell players more than inter does, inter has been selling because they are in a bad state financially, if they will ever stabilise they will stop selling star players, why do you think real madrid doesnt sell star players, because they dont need money from player sells, when comparing big teams, money from player sales is not necessary, that is something to brag about between atalanta, ajax dortmund benfica sporting cp etc

  5. This seems to be a useless statistic.

    You have to consider the players as assets in this.

    What is the Value of your assets is also important.

    If Inter have sold players and their players overall value has decreased, then it is not a good thing for the club.

Comments are closed

Serie A Standings

Live football scores . Current table, fixtures & results.