AC Milan’s financial situation continues to improve and the budget that was officially approved today demonstrates the progress being made off the field.
Il Mattino (via SempreMilan.it) writes that the shareholders’ meeting held at Casa Milan approved the financial statements for the 2021-22 year which saw a loss reduced to €66.5m – a clear decrease compared to €-194.6m in 2019-20 and €-96.4m in 2020-21.
It is a recovery process which is being consolidated by a number of factors including the reduction in net financial debt, which is €28.4m as of June 2022, versus €101.6m in June 2021.
Finally, renewal is expected in days of the partnership between Milan and Emirates. The current agreement expires in June 2023 and the new one should see the fee rise from €14.2m per year for being the main men’s first team shirt sponsor to €30-35/yr.
Meanwhile, Pasquale La Ragione highlights how Milan’s revenues increased by 14% from 2020-21 to 2021-22, going to €297.7m total compared to €261.1m.
This comes from the following: revenue from tenders was up €32.5m, commercial income increased by €17.6m and other revenues were also up €10.9m (including capital gain on the sale of Casa Milan).
Great!! Now renew with Leao!
Exactly !!!
They’re in the process of negotiation FFS
Boom. In a couple more seasons of continued fiscal responsibility and continued participation in the CL we should actually have a positive balance. Then when the new stadium is completed it will be whole new ball game. The future is red and black.
Slow and steady.