There is a lot of negative press surrounding AC Milan at the moment given the amount of perceived uncertainty hanging over the club after what has been a difficult season.
We have already written about them at length, from the fan protests against the potential hiring of Julen Lopetegui to the complex nature of Milan’s hierarchy and why too many gears might cause a jam.
The social media sphere surrounding Milan continues to be toxic. Arguments over who should be the next head coach and striker drive a further divide into a fanbase that are confused and hungry for success.
Throughout the season we would like to think that we have done a good job of documenting the highs and the lows, such is the duty in the search of objectivity. There have been challenging stretches that have pushed patience to the limits as part of that.
At a time when it is hard to be positive, it is sometimes important to step back, take stock and realise that there are still some things to be optimistic about, as we have highlighted below.
As a disclaimer, this piece might not be for you. Some prefer to focus on the problems that must be fixed and that is absolutely fine, but please try to understand that this is not an attempt to pull the wool over anyone’s eyes, just a chance to point out the foundations to build on.
1. European pedigree
Milan have qualified for the upcoming (new and richer) Champions League for the fourth consecutive time, following a seven-year absence from the top European competition (from 2014 to 2021).
It has been spoken about time and time again by all ownerships – not just the present one – that securing continuous UCL football is a fundamental foundation of future success because of the revenues it brings.
Some might have thought it was an absolute given after the 2021-22 season, but Napoli’s plight this season after their title win and Lazio’s drop off from second last year shows that it is actually not straightforward to keep being among the top four.
Additionally, the victory over Cagliari secured the team’s place in the Final Four of the Italian Super Cup, to be held in Saudi Arabia. That will bring in a nice chunk of extra money.
2. An exciting summer
After the sacking of Paolo Maldini and Ricky Massara caused a stir, Geoffrey Moncada and his team got to work bringing in 10 players during the last summer transfer window.
The investments made by Milan last summer have proven successful on the field at least in terms of numbers. Players acquired by the Rossoneri in summer 2023 have collectively contributed 47 goals and 23 assists this season, accounting for 73.7% of all goals scored.
Of course there are additional caveats such as what wasn’t addressed, but Milan are in a position now (financially, which we will come onto) to build further on the work that was done and to perhaps get towards having a complete squad.
It’s not like we have no idea where the team can go from here. There is an obvious need to sign a centre-forward, a defensive midfielder, a centre-back, a full-back and plug other holes too, so that at least adds some clarity to the mission this summer.
3. Youth development
Milan are continuing to work on its Under-23 team project to further strengthen the youth sector, which has been delivering promising results.
Six Primavera players debuted with the first team this season, and the Primavera reached the UEFA Youth League final for the first time and the Final Four for the second consecutive year.
The results of Ignazio Abate’s side are proof that there is a very talented group of players on the cusp of a breakthrough and having a team competing against senior sides in Serie C will really help that.
Just looking down the Primavera side, the likes of Noah Raveyre, Jan-Carlo Simic, Clinton Nsiala, Alex Jimenez, Kevin Zeroli, Victor Eletu, Diego Sia, Filippo Scotti, Mattia Liberali, Francesco Camarda and others form a core from which at least some should make the jump with ease.
4. Financial solidity at least
The latest financial statement showed a profit after 17 years (since 2006), with record revenues exceeding €400m. The current budget forecasts are equally positive, allowing for further investments in the sports sector.
We did a breakdown of the projections for the 2023-24 accounts on our Substack (as a free read) and it highlighted how the increasing revenues from various different streams means that an even larger profit should be recorded.
Obviously the intentions of the ownership must now be to take those greater margins for investment and put out a better product on the field, but without the improved financial situation the ability to improve the squad would be incredibly limited.
This economic resurgence puts Milan on much more stable footing compared to their competitors (look how Inter’s owners are scrambling just to refinance) and has happened under the eyes of a UEFA Settlement Agreement, something which can only help put the club in good graces.
5. Commercial explosion
Alongside its sporting efforts, Milan are continuing to strengthen its commercial activities under their American ownership, as was perhaps to be expected given their emphasis on merging the sports and entertainment spheres.
In the 2022-23 season, the club closed 31 agreements, including significant renewals with PUMA and Emirates. Last November, Casa Milan Dubai, the club’s new headquarters in the Middle East, was inaugurated.
In addition, Milan’s brand continues to grow significantly. Brand Finance highlighted the AC Milan brand’s highest growth in the world in 2023. The club is also regarded as the most esteemed Italian football club in the United States and China, according to international market research.
6. A guarantor
Zlatan Ibrahimovic’s return to Milan is something that was far from a given. The talks went on for several weeks because both sides needed assurances, and in the end the Swede felt ready to help again.
It goes without saying that Zlatan represents a valuable addition in terms of charisma and identity for Milan. Not only that but he can offer his experience to help mentor some of the players who need it, in difficult and formative moments.
Above all though, having Ibrahimovic back around is a guarantee of sporting ambition. Throughout his entire career the former striker strived to be the best and to win – that competitive edge doesn’t just appear overnight.
We are heading into the first summer with Ibra as part of the working group so at present it wouldn’t be fair to judge his work. In the big decisions that are to come, you can believe that he will have a decisive say.
7. New stadium
As has been extensively documented, Milan and RedBird are actively working on the new stadium project and they hope to give the fans a new home to be proud of.
Owner Gerry Cardinale considers the stadium crucial for the club’s future to remain among the elite of European and world football, because of the revenues it would generate and the possibilities it would bring.
San Donato appears to be the chosen site so while it will involve a move to a different part of the city it will become a ‘Milan Village’ of sorts. There will a new club shop, museum, hotels, offices, shops and more.
It may take a few years until a ball is kicked for the first time, but it will be the completion and the realisation of a project that could instantly catapult Milan above other sides in Italy.