AC Milan continue to take strides forward off the field as their economic resurgence has kept going since Elliott Management took over the club, a report claims.
As Football Benchmark (via MilanNews) explains, the Rossoneri obtained €269m in total operating revenue last season, recording an increase of 16%. A total of €33m was generated from home matches, one of the highest figures of the last ten years. Revenue from broadcasting was down slightly but stands at around €44m, including UEFA awards and representing 49% of total operating revenue.
In the last three years, commercial revenues have proven to be the main growth factor, reaching €104m in 2021-22. The agreements with PUMA and Emirates yielded a total of €30m, or €15m each.
BitMex and Wefox paid €5m and €7m respectively to have their name on the shirt. In addition, merchandising and licensing revenue more than doubled to a total of €25m.
The costs of the squad remained stable at around €170m considering the savings on the salaries of Donnarumma and Calhanoglu. The farewell of the duo compensated for the additional costs deriving from the new arrivals and the bonuses assigned to the team, allowing the club to reach an excellent 63%.
Revenue growth, combined with a rigorous cost control strategy, has led to a dramatic improvement in underlying profitability over the past two seasons. The value of the Milan squad, as of 1 January 2023, is equal to €693m.