Milan are set for an unusual event for a top Serie A side: closing a balance sheet session in the black. The Rossoneri had a meeting of the board on Wednesday. The team recorded a €6M profit in 2022/2023. It’s a steep improvement relative to the -€66M in the previous season, Calcio e Finanza informs.
As a matter of fact, it’s the first time they don’t lose money since 2006. Longtime president Silvio Berlusconi used to pour a lot of cash into the club to offset it. The Yonghong Li era was damaging financially. Elliot started to mend them, and Gerry Cardinale continued to work, finally getting to a positive number.
Milan have fared much better than Inter and Juventus economically, even though their competitors have improved their books. Their crosstown rivals were in the red for €85M, while the Bianconeri for €111M.
While the investment for the new stadium will be sizeable, it’ll have positive ramifications in the long haul. The Rossoneri had record-breaking revenues, €400M, in the past campaign, thanks to new sponsorship deals, increased commercial profits, and their good run in the Champions League, where they reached the semi-final.
Milan didn’t refrain from investing, though. The cost of the squad grew by €50M. They have a healthy net capital, going from €131M to €177M in the span of a year.
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