AC Milan’s 2022-23 accounts were made official today, and the breakdown of various aspects of the budget are continuing to emerge.
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The AC Milan Shareholders’ Meeting today approved the results for the financial year ending 30 June 2023, and the official website relay that there was a profit of €6.1m (a first profit since 2006) as well as record revenues of over €400m.
Felice Raimondo has published an itemised breakdown of the accounts on his website, and he lists some of the details regarding the costs that Milan have as a club.
Main indicators regarding costs:
➤ Total Group costs equal to €389.6m (historic record)
➤ Personnel costs remained virtually unchanged at €174m gross. Overall, if we consider the players, coaches, staff and social security contributions, we arrive at approximately €150m gross (37% incidence on overall revenues).
For the players alone, approximately €122m gross were spent between the fixed portion (€107m) + bonuses (€15m) to which must be added a significant part of the €4.4m of social contributions not attributable to the players alone.
➤ Amortisation and write-downs amounted to €71.3m, with a slight decrease, with the amortisation of players alone amounting to €50.8m.
➤ Costs for services and use of third-party assets are rising sharply, amounting to €99.7m (historic record) with an increase of €31.6m mainly due to general costs for sporting activities (travel expenses, consultancy, etc.).
➤ Payables to sports agents amounted to €10.8m, an increase of €4m.
Transfer market 2022-23:
➤ De Ketelaere cost €36.5m (agent commissions €2.8m net)
➤ Thiaw cost €8.8m (agent €0.4m)
➤ Messias cost €6.2m (agent €0.1m)
➤ Florenzi cost €2.6m (agent €0.4m)
➤ Loftus-Cheek (present because purchased before July 1) cost €18.4m (agent €0.9m). Attention: no cost relating to amortisation has been included, which will start from 1 July 2023.
➤ Rebic devalued by €2.2m
➤ Messias devalued by €1.7m
➤ Increase in the historical cost of Leao equal to €20m linked to the renegotiation of the sell-on fee due to Lille. Current historical cost equal to €49.5m and residual at 30 June 2023 equal to €28m
