MF: Milan have platform to invest thanks to accounts – the comparison with Juventus and Inter

By Oliver Fisher -

AC Milan are by far the best managed big club in Italy when it comes to the financial outlook, with the challenge now being to translate that into on-field success.

Milano Finanza (via MilanNews) have drawn up a ranking of the Serie A teams based on their balance sheets (data as of 30 June 2023), and it is perhaps not surprising to hear that Milan’s outlook is positive when compared to their rivals.

AC Milan

➤ Debt as a % of revenues: 61.8%
➤ Total debts: €250m
➤ Revenues: €404.5m
➤ Personnel costs: €174m
➤ Net result: €6.1m
➤ Net worth: €177m

Juventus

➤ Debt as a % of revenues: 155.8%
➤ Total debts: €791m
➤ Revenues: €507.7m
➤ Personnel costs: €282m
➤ Net result: €-123.7m
➤ Shareholders’ equity: €42m

Inter

➤ Debt as a % of revenues: 189.7%
➤ Total debts: €807.3m
➤ Revenues: €425.5m
➤ Personnel costs: €227m
➤ Net result: €-25.2m
➤ Shareholders’ equity: €-161m

As Felice Raimondo writes, the ‘budget Scudetto’ is not of interest to the fans but to the owners, who must make an investment profitable through economic and infrastructural growth (stadium).

In reality, the budget would also be of interest to the fans if it entailed greater investments in the squad and, therefore, greater ambitions.

Fans generated ticket revenue of €72m out of their own pockets and this is money that, just as it arrives, can also remain in their pockets if answers do not come from the field.

Tags AC Milan

26 Comments

  1. Because any top player would like to play under Fonseca – the numbers gonna be better next year cuz we ain’t spending more than 20 mils on a player

  2. Despite losing the Excel Scudetto, we’re still better than this lousy Inter that competes for stars and trophies. So middle age of them. Now let’s beat our new rivals Fiorentina and Empoli! Forza widget factory!

    1. So basically you don’t allow for the possibility of being financially sustainable/profitable AND successful on the pitch at the same time?

      1. Well I don’t know anything about that “successful on the pitch” you’re referring to. And the management neither. Jerry said it’s boring to win. Scaroni said we aim at top 4. And now we have Paulo Fonseca the best coach at not winning anything. It’s been one entire year since the previous management has been fired, despite being financially sustainable/profitable AND successful on the pitch at the same time. This is the new era of ambitious Excel spreadsheets.

    1. Exactly. The mathematician fraction of the fans now will comment that with this profit, eventually we will be very strong Real Madrid like in 10 years time. If you ain’t on terms with them you are just speculating.

      1. Mr cardinal said: “it will be boring if we get scudetto again, let others win. To make fan excited, we choose handsome zorro guy as coach. It will we exciting when he use zorro mask in a match”.

        1. The point he is trying to make is that (for example) Bundesliga is boring AF with only Bayern winning 9 times in ten years (figuratively). How happy are Bayern players actually winning it? Or the fans? It’s become mundane for them probably.

          1. Since Bayern is making a lot of money in revenue, that means that its fans are quite happy to watch them. While financial health is very important, without investment one can’t win trophies and increase revenue to the elite level. Top EPL clubs, PSG, BM and RM are making a lot of money in revenue because they have top players who were bought with a good amount of money.

          2. @Inter-fan it’s so sad that an inter fan in your face have been more rational than 90% percent of the ppl here. Yet again you gonna get hated for tellin the truth.

          3. Wtf wait what? You think professional football players who were fighting for ten months to win a competition think it’s boring to win it? You think fans think it’s boring to enjoy the thrill of winning a competition? This is the most stupid thing I read on the entire Internet, ever.

          4. @the replies:

            I’m saying Bayern is starving for a CL trophy that they really wish to celebrate rather than the Bundesliga trophy they win on “repeat” every year.

          5. Inter fan i salute you wining team with lot of debt like inter are better than debt free profitable team like milan

          6. I’ll am not sure any bayern fan or any dominant side fan has ever complained about winning too much.

            Bayern winning too much has helped elevated their finances through their top players brought in.

            Maybe Milan’s management can learn something from that. But then again that would be a sisyphean task to ask of them.

  3. I think we should spend 500m Euros this summer, win everything once (it’s guaranteed right?), get banned by UEFA, go broke and then restart from Serie D with a fourth new owner since 2018 and not win anything again for 10 years! New banter era! Yay!

    1. Yeah because there is no in-between, either you go broke or you don’t spend. Amazing that some people still root for this silly management. I guess you don’t like football.

      1. Coaching decision aside what do you actual issue do you have with the management?

        Money is being spent. Players are being brought in to improve the roster. Stadium is in the works.

        What do you find disturbing?

        1. Money being spent hhh that cheap left overs from other teams especially reinvested real Madrid, buyer Munich, PSG, spent money that’s why they are competing year after year in Europe

        2. Money been spent.
          Hmm not counting that the bulk of that money came from a players sale, but anyway.

          Ask yourself the path taken by the management and the kind of players linked. Are they the sort to really elevate the club. Or better still put the way Milan miss out on good players, to be snatched up by their rivals is that the great path of a good management.

          Now we go to the stadium. When it’s build, what would be the new position to hide under then. Because alot of fans use the stadium card to sweep/hide under, how mediocre things are at Milan.

          1. I don’t care where the money is coming from. Point is even with the player sales they are reinvesting the funds and not pocketing them.

            “ When it’s build, what would be the new position to hide under then” – what does this even mean? Who is hiding under the stadium?

            Stadium is means greater financial flexibility. The naming rights alone are a cash cow. It to mention whatever else they can use it for. This all ensure Milan will remain fundamentally strong and stable.

            I don’t want to see Milan in another banter era.

        3. Just leave fools alone, nothing you say will change certain people from there mindset, even if we win champions league they will complain about the method of wining it. Nothing will satisfy them, you actually know real fans when they comment.

          1. So anyone who doesn’t agree with your way of thinking is a fool.

            🤣😂🤣All these entitlements on how a fan is meant to behave or they should blindly support everything even when it’s not optimal. 🤦‍♂️🤦‍♂️

  4. Sure it’s great to have the team’s financial healthy. But at the end of the day, people remember trophies, not profit. Anyone remember how much the profit last time we won CL in 2007?

  5. @ACM1899
    Neither do I. And let’s be realistic no Milan fan. But you did not answer this question from the the way the coaching path is been handled and the way the club looks, does it looks like this management are actually trying to lift the club to greater heights. Or are they just trying for the minimum.

  6. @ACM1899
    And what I meant about hiding under the stadium. A lot of fans use the stadium project as an umbrella to explain why running of the club is having issues rather than the personel involved. They act like having a stadium would automatically solve all our issues.
    So if and when the stadium is built, what would be the next excuse.
    Since we’ve gone from
    1 we were not financially stable to
    2 we did not have the necessary squad to
    3 we got the players but they were not good enough to
    4 the coach could not get the best out of them to
    5 now the stadium.
    It just seems everyone is making excuses for how inexperienced this management is. Strange the previous management did not get all this excuses/defence.

    Even Cardinale shares a part in the blame.

Comments are closed

Serie A Standings

Live football scores . Current table, fixtures & results.