As has been rumoured for months, it has now been confirmed that AC Milan have essentially halved their losses as a financial resurgence continues.
Calcio e Finanza and MilanNews are both reporting that the accounting year has effectively closed with a loss of €96.4m, a marked improvement compared to that of the 2019-20 season when the total stood at €-194.6m – a record loss for Milan.
The 2020-21 budget certainly suffered due to the impact of Covid because of the closed stadiums that drastically reduced key revenue stream, while it should be emphasised that the improvement in the accounts went hand in hand with that of the team, which obtained the second place and a return to the group stage of the Champions League.
Milan also do not have any debts with banks as well as has no bond debts which, as per the report, is a sign of economic solidity on the part of the majority shareholder. During the summer transfer window, Elliott Management signed off €70m of investment in the squad, which was virtually unmatched in Italy.
Numerous partnerships have been signed to try and improve the situation further, but to fully move into a position of absolute strength it will be necessary to have a new, cutting-edge and functional stadium. Only in this way – with a new source of revenues that can be exploited seven days a week – can there be that further leap.