Since changing to an American ownership – firstly with Elliott Management and now RedBird Capital – AC Milan have modernised to become what is resembling a commercial machine.
Milan are expected to close yet another financial year with a profit as the club’s financial health continues to improve. Having a bit more money in your pocket can enable you to do things like have a bet, and you can find all available options.
The numbers
Milan registered a €6.1m profit in 2022-23 and they are expected to close 2023-24 with a profit between €10m and €20m as the key numbers continue to trend in the right direction.
The revenues – according to estimates – should be between €435-440m, an increase of over €30m compared to last season and including over €56m in revenue from the management of players’ rights (of which almost €52m were in capital gains, mainly relating to the sale of Sandro Tonali to Newcastle).
BrandFinance recently reported that Milan are the club that recorded the greatest growth at an international level in the four-year period 2021-24, going from around €150m to over €400m (+162%). Bayer Leverkusen (+94%) and Aston Villa (+70%) were second and third.
Moreover, the Rossoneri were the only Italian club in the world top 50 to have increased its value in the last year, with a +11.9% compared to the last edition which takes it from €358m in 2023 to over €400m in 2024.
Further initiatives
The work is still going on to try and diversify the club’s revenue streams and engage in partnerships that put the name of Milan out there in markets that it may otherwise remain hidden in.
For example, the announcement of a prestigious new partnership with Cincoro Tequila – an award-winning portfolio of luxury tequilas – came last week, with the brand becoming the Official Tequila of the Rossoneri.
Cincoro Tequila was launched in 2019 by five NBA legends: Jeanie Buss of the Los Angeles Lakers, Wes Edens of the Milwaukee Bucks, Emilia Fazzalari and Wyc Grousbeck of the Boston Celtics, and Michael Jordan.
Earlier in the week Milan officially opened their new Flagship Store on Via Dante, right in the centre of Milano, after a ribbon-cutting ceremony that took place involving members of the management and some players too.
With a surface area of approximately 500 square metres, the new store on Via Dante is the largest that the club have and is strategically located between the Duomo and the Sforzesco Castle, in one of the liveliest streets and close to the main attractions of Milan.
Maikel Oettle, AC Milan’s Chief Commercial Officer: “We are thrilled to open our new Flagship Store in the heart of Milan, our city and a symbol of style and elegance worldwide. This Store is proof of our ongoing commitment to our fans and our city. It is much more than just a place to buy the Club’s products; it is a true hub for our community, where fans can deeply immerse themselves in the AC Milan experience.”
“In line with the vision of Gerry Cardinale and RedBird Capital Partners, the new Flagship Store represents another significant step towards creating unique experiences at the intersection of sports and entertainment, marking an important advancement in AC Milan’s retail expansion.” added Oettle.