Study reveals worrying signs regarding Milan’s financial health but overall value up

By Oliver Fisher -

AC Milan are currently the 19th-most valuable football club in Europe, a report claims, but there is a worrying sign in their accounts.

That is according to well-known business consulting and auditing agency KPMG (via, who have drawn up their annual list of the most valuable clubs in Europe’s top five leagues.

They also track the financial health status of clubs, assesses their value, the impact of the market, and their popularity.

Milan have closed with a total value of €521million and remain in 19th position, with the growth down compared to previous years. The actual overall value of the team is up 8%, but the biggest problem is the ROS, or the budget index that measures the profitability of sales compared to earnings.

The cost of the squad grew too fast compared to the revenues closing with a ROS of -57%, above all down to the operations of buying and selling of players not supported by sales or receipts (essentially making net losses in transfer windows).

Juventus meanwhile have dropped a position to 10th place despite a growth rate of +19%. They have a total value of €1.5billion.

City rivals Inter have grown by 41% in just one year, the most of any team in the top 20, and have flown into 15th place in the standings with a value of €692million.

The top three has also changed for the first year with Real Madrid returning to the summit (€3.1bn), surpassing Manchester United in second place (€3.06bn) and Bayern Munich also completes a leap (€2.6bn) into third.

This moves Barcelona (€2.5bn) down from to fourth. For the other Serie A clubs, Napoli (€543m) closed down at 18th position, while Roma (€491m) remained stable at 21st place and Lazio rose to 28th with €282m.

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