AC Milan Make Profit For First Time Since 2006: The seven-time European winners turned around a 66.5 million-euro deficit from the previous 12-month period to turn a profit, defying a pattern of hefty losses among Italy’s elite teams. EnoughInfo.com
Milan said that the club record income of 404.5 million euros, a 36% increase in sales, was the reason for the meagre profit.
The club stated that the rise in revenue was made possible by matchday revenues of 40.3 million euros, a 41.8 million euro gain in media rights money as a result of a run to the Champions League semifinals, and a 44.4 million euro increase in takings from commercial and sponsorship operations.
Milan’s finances are in sharp contrast to those recently disclosed by their two main rivals, Juventus and Inter Milan, both of which are still losing money.
AC Milan Make Profit For First Time Since 2006
The most popular club in Italy, Juventus, lost 124 million euros the previous season and hasn’t turned a profit since 2016–17. In order to close the gap in their finances, the club has asked shareholders for 900 million euros in capital increases over the previous four years.
Despite making it to the Champions League final, Inter lost 85 million euros the previous season, and its Chinese owners, Suning, are required to reimburse the investment group Oaktree Capital for a loan of about 300 million euros that they obtained in May 2021.
The accounts for 2022 and 2023 are the first to be issued under RedBird’s ownership. In August of last year, RedBird purchased Milan from rival US company Elliott.