AC Milan’s financial path is heading in the right direction and the club closed the first half of the current financial year with a profit, according to a report.
Calcio e Finanza reports that the Milan Board of Directors – chaired by the president Paolo Scaroni – met today to approve the financial position of the club in the first half of the 2021-22 financial year, therefore consolidated until 31 December 2021.
The report adds that the club have finished the first half of this year returning to profit, showing an improvement in the main financial indicators despite the negative economic impact that Coronavirus pandemic brought.
The overall balance sheet for the first six months of the 2021-22 financial year showed a €3m profit brought about by a significant growth in revenues, which are up 40% compared to first six months of the 2020-21 season).
As part of that there is also some extra income attributable only to the first semester, including the sale of Casa Milan to a real estate fund which earned around €18m. Milan are expected to close the season with a further reduced loss compared to last season’s €-96m, and should reach €300m in revenues at the end of the 2021-22 year.
