Finally, AC Milan have closed its balance sheet with a profit this time. A feat that has not been achieved since 2006. Yesterday, the Board of Directors of the Rossoneri club met to review the accounts for the 2022/23 season, which, according to information from Calcio e Finanza, ended with a positive net result of 6 million euros.
This is a significant improvement compared to the deficit of over 66 million euros from the previous season. The balance sheet will then be subject to approval by the shareholders' assembly, which will likely take place towards the end of October.
In 2006, when the balance sheet (whose closure was then set for December 31) reported a profit of nearly 2.5 million euros. From then on – between the Berlusconi and Yonghong Li administrations – Milan has always been in the red, and it's only through the efforts of Elliott (and now RedBird) that the company has been put back on the track of sustainability.
Returning to the balance sheet in detail, revenues for the 2022/23 season exceeded 400 million euros (297 million in 2021/22), setting a new record in Milan's history. The figure is driven by an increase in commercial revenues and sponsorships – up by 44 million compared to the 2021/22 season – and by the excellent performance in the previous edition of the UEFA Champions League, where the Rossoneri were contenders until the semi-finals.
