AC Milan are projected to make further strides forward in their economic recovery as the budget for the 2022-23 season has been forecasted.
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Calcio e Finanza write that developments yesterday and over the past few days regarding the new stadium project show that Milan are in a hurry to get a new home built, because Gerry Cardinale and his fund RedBird Capital have it high on their list and they are willing to make the big investment.
Together with the television rights and the commercial aspect, the stadium is the third key asset for a football club aiming to establish itself at the highest levels of European football. Since Elliott Management’s arrival, Milan have begun a recovery process which sees losses declining year on year.
As per the source, Milan should close the 2022-23 accounts with a loss of around €25m, which is less than half what they were in 2021-22 (€66.5m) and nearly a quarter of the €96.4m losses made in 2019-20.
It is a reduction that is also driven by revenue growth in 2022-23 but without the boost given by player trading, since Milan did not register capital gains. Commercial revenues increased and a better run in the Champions League helped, one which has not yet concluded.
The stadium therefore remains the most urgent piece to be fixed in order to ensure that the rest of the work carried out in the other areas of the club is also valued. The new stadium should bring incremental revenues (without considering ticket sales) equal to over €120m per year, which makes the urgency understandable.
