Raimondo: Milan to record around €450m revenues in 2023-24 – the breakdown | OneFootball

AC Milan’s financial situation continues to improve and the margins for making more investments in the upcoming transfer window are increasing.

According to what Felice Raimondo has reported on his Substack, Milan’s revenues went up by €106.9m from 2021-22 to 2022-23 thanks to the following:

➤ The increase in sponsorships and merchandising (overall approximately €130m); ➤ The Champions League campaign (€87.9m); ➤ Ticket sales from domestic and European games (€72.8m).

Undoubtedly the sporting results in the Champions League have had a significant impact on the final revenues, and we can now begin to draw some conclusions from the 2023-24 season too.

Audiovisual revenues from Serie A will be substantially identical if not slightly better due to the better position that the club will obtain in the league table (third or second place is assumed), but there will be a drop in Europe by about €33m due to Champions League group stage elimination.

Income from sponsorships will undergo a clear increase thanks to the new PUMA and Emirates contracts which started from 1 July 2023 (therefore from the current financial year, increase of €15m each to total €30m) and thanks to the new sleeve sponsor MSC (€5m per season). The overall increase: €35m.

More Stories / Features

When Milanismo meets a ‘fire inside’: Abate reaches crossroads with decisive meeting imminent

2 May 2024, 21:30

Boxes ticked, Juventus concerns and talks resumed: How the Motta idea regained momentum at Milan

1 May 2024, 21:00

Devil’s Advocate: Petitions, principles and precedents – the dangers of external noise

30 April 2024, 19:30

Income from ticket sales will suffer a slight decrease due to dropping into the Europa League, but thanks to greater proceeds in Serie A, the decrease will be rather limited: around €6m gross. For the last two home matches, revenues of €2m were assumed for each game.

Thanks to the sale of Tonali and some loan exits, the proceeds from player departures should amount to €54m (equal to the 2023-24 capital gains as anticipated in the 2022-23 budget, i.e. €48m plus loan fees).

It will be thanks to all of the above revenues that the club will record another profit. This is the substantial difference between Milan and some top Italian clubs: for the Rossoneri, capital gains do not represent a survival tool but instead opportunities that can be seized or refused based on the merits of the offer(s).

To conclude, Milan should close their next set of accounts on the 30th of June with approximately €450m in revenues.