AC Milan have spent a lot since RedBird Capital took over in 2022, but there is a strong argument a lot of it has been wasted.
Read SempreMilan ad-free and get access to exclusive news. Click here for a free trial!
MilanNews write how over the last four years the club have invested (and received) a huge amount when it comes to transfer market, more than virtually all of their domestic rivals, but they have not yet managed to build a truly coherent and solid team.
The numbers are impressive: €62m spent in 2022-23, €132m in 2023-24, €139m in 2024-25 and €170m in 2025-26 (after earning €179m from various sales), for a total of €503m, averaging more than €125m per season.
These are enormous figures, especially when compared to the results achieved and the constant feeling of an often incomplete squad, assembled more on a whim rather than with a clear strategy.
Listen to Max
That’s why today the key isn’t to spend more, but to spend wisely. If Milan made the decision to rely on Massimiliano Allegri last June, then they must have the courage to follow his instructions to the end.
It wouldn’t make sense to continue with the usual hybrid strategy, in which the coach asks for functional and experienced profiles and then the management end up buying players that are far from a tactical match.
That’s how you waste money and time, and that’s why rebuilds are needed seemingly every year. For this squad, four targeted additions are needed for the starting line-up, and they must be a fit for what Allegri wants which is pragmatism and experience.
The real question is this, what kind of team would Milan have today if those €503m had been invested properly? Probably a stronger, more balanced squad with far fewer adjustments to make each summer.
Two great examples came last summer. Allegri wanted a striker right until the end, and he was given a completely different profile in Christopher Nkunku, for the eye-watering sum of €37m plus bonuses. He asked for Rabiot and he was signed for €7m. The former has struggled, the latter has been a star.
The problem wasn’t the budget, but the lack of a clear direction. Now the club are at a crossroads: continue to pursue scattered ideas, or give Allegri the right players. In the mercato spending a lot isn’t enough: you have to know where to put your trust.