In the last two months, Milan has been the protagonist of an extremely busy transfer market, both in terms of arrivals and departures. Using estimates provided by those at Calcio e Finanza, we can see how much the Rossoneri spent, how much they earned, and which areas received the largest investments.
AC Milan's incoming signings:
The incoming transfer campaign delivered 10 new players to Massimiliano Allegri’s squad, at least one for every department. A new backup goalkeeper arrived (Pietro Terracciano), along with two young central defenders (De Winter and Odogu), two wide players who can operate either as full-backs or wing-backs in a five-man midfield (Estupiñán and Athekame), four midfielders, the most revamped area (Modric, Rabiot, Ricci, Jashari), and finally a forward (Nkunku).
Setting aside technical judgments or their usefulness to the squad, here are the estimates of how much the Rossoneri spent. Considering only the fixed purchase fees (excluding bonuses), Milan spent €158 million. The most expensive signings were Nkunku (€37m) and Jashari (€34m), the two highest in all of Serie A. The impact of these players on the balance sheet, more than those returning from loan (Saelemaekers, Adli, Bennacer), will amount to just over €90.5 million.
Exits from the AC Milan team:
There were also a huge number of outgoing transfers. Between expiring loans, contract expirations, permanent sales, and temporary deals, Milan let go of a total of 25 players. Among those who departed permanently or whose contracts expired on June 30, the club collected €97.3 million. These operations are expected to generate an estimated capital gain of around €72 million, thanks especially to the sales of Theo Hernandez, Malick Thiaw, Tommaso Pobega, and Noah Okafor, as relayed via our the colleagues at Milannews.it.
As for the seven players sent out on loan, the Rossoneri club management recorded €8 million in fees. The overall impact of these transfer operations on the 2025/26 balance sheet will be just under €167 million.
