AC Milan managed to record a small profit of €6.1 million during the 2022/23 season, as shown by the financial records being released.
Reported by La Gazzetta dello Sport (via Pianeta Milan), in the financial year ending June 30, 2023, Milan recorded a profit for the first time since 2006.
A profit was last recorded on December 31, 2006 in the Fininvest era. This profit was just €2.48m and it was largely achieved thanks to the €42m sale of Andriy Shevchenko to Chelsea.
Whilst the profit may be small, it is an immense achievement for Milan to be in the green considering just how bad things got a few years ago. It is even more impressive when you consider that last season, Milan recorded just €300,000 in capital gains.
The good news comes thanks to Elliott Management’s corporate rescue and restructuring, and then the work from RedBird Capital after taking over the club.
It is forecasted that a bigger profit will be recorded at the end of this season.
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