“The Rossoneri club returns to close its balance sheet in the green, with a profit of 6 million and record revenues that exceeded 400 million in the past season, something that hadn’t happened since 2006.
By registering a profit of €6 million, Milan returns to close its financial statement in ‘greeb’ for the first time since 2006. This is reported by ‘Calcio e Finanza,’ which analyzed the numbers of the Rossoneri club after the Board of Directors meeting held to review of the accounts for the 2022/23 season.
The financial statement will be subject to approval by the shareholders’ assembly, which will take place at the end of October. This marks a significant improvement from the previous year’s loss of over €66 million and a positive balance that, as mentioned, hasn’t been seen since 2006 when a profit of nearly 2.5 million euros was recorded.
Here are the details of the financial statement:
Revenues for the 2022/23 season exceeded €400 million (compared to 297 million in 2021/22), setting a new record in Milan’s history. This increase was achieved through higher commercial revenues and sponsorships, which grew by €44 million compared to the 2021/22 season.
Sporting success also played a huge role, with Milan’s journey in the Champions League taking them to the semifinals. These revenues have been reinvested by the ownership, and discussions have begun regarding the new stadium (with concrete steps taken for its construction in San Donato).
Additionally, investments in the team were not lacking, with player salaries increasing by 50 million euros compared to the previous season. Finally, the consolidated net worth as of June 30, 2023, stands at a positive 177 million euros, a significant increase compared to the 131.23 million euros balance as of June 30, 2022.
