Scheduled for yesterday and postponed by 24 hours, the Club’s Shareholders' Meeting took place today. The financial statement as of June 30, 2025, was approved, and shows a profit of 3 million euros, the third consecutive year in the black. On the same day as the official transfer of ownership of the San Siro stadium to the clubs, President Paolo Scaroni chaired the meeting and will now answer questions during the media briefing.
Scaroni:
"We closed the financial year with a profit for the third year in a row. That seems like a good result to me. I highlight the growth of our revenues from areas other than player trading and television rights. The figure has risen from 90 million in 2019 to 240 million in the past financial year. Something spectacular and it gives me confidence for the future. These should be fairly stable revenues that, within limits, are independent of sporting results and allow us to get through difficult years like this one without the Champions League," as relayed via Milan Press.
He added:
"In player trading we have earned 62 million euros over the last four years. Compared to Napoli, Inter, and Juventus, all above 100 million, we have sold fewer players than other clubs. This year, the capital gain from Reijnders gave us a significant amount, it must be said."
On Milan–Como in Perth:
"We’re not going for financial reasons, because the profit from this operation is minimal and doesn’t change our accounts. We’re going as part of an effort, as Milan and as Serie A clubs, to internationalize the league. Serie A’s main issue is the sale of TV rights abroad, which brings in 200 million euros a year, while the Premier League earns 2 billion. How do we close that gap? One step is to play matches in places like Australia. We believe it can help promote both Milan and Serie A there. It’s not about the small extra revenue today. For this reason, our Serie A colleagues have supported the initiative."
Will we return to a loss this season without the Champions League?
"We still aim for a satisfactory economic result, but without the Champions League it will be tough. I count on finding ideas that will at least bring us close to a fourth consecutive year of profit.”
Judicial issue after the signing?
"If you refer to the ANSA report I read, I think we are astronomically far from a storm, not even a breeze. When a citizen complains because the tender process didn’t satisfy him, the Prosecutor’s Office must investigate. I have no concern about that. What worries me is the long path ahead to have a new stadium built and operational, with many obstacles, though I’m confident we’ll get there. We are all convinced this project must happen for the city. I believe opposition will be weaker than four or five years ago. The European Championship in Germany convinced many that modern stadiums are something else. The nostalgia for the old stadium where people went with their fathers and grandfathers has faded."
Scaroni, will there be shareholder intervention?
"For now, nothing is planned. We’ll do everything we can to keep the accounts balanced. We are monitoring debt levels, but we don’t foresee any intervention at this stage. We consider player trading normal, not exceptional. We always want to be active in the market, both for signings and sales. We use player trading much less than other clubs. Fans grow attached to players, and so do we, but the goal is to build a strong, winning team within a balanced financial framework."
How will the coexistence between the new stadium construction and the current one work? Will there be changes?
"It’s too early to give a full answer. We believe nothing will change in terms of infrastructure, like the metro. The Meazza’s capacity will remain the same. We’ll try to build the new stadium with as little disruption as possible for the city, residents, and ourselves. The overlap will last just over two years, and we’ll try to make it as manageable as possible.”
Scaroni also said:
"We were fined for a communication delay by the FIGC. Within our ownership chain, a new investor joined, bringing fresh financial capital to RedBird. The notification reached us late, because explaining to our American shareholders what we must do with the FIGC is not always easy.”
On Adriano Galliani:
"No news for now. I also read the reports that emerged when Monza was sold. He’s a great friend of Milan, I saw him at San Siro against Roma. He’s definitely not joining Milan’s Board of Directors, there’s no Galliani. If RedBird decides to give him a role, they’ll inform us."
On Massimo Calvelli:
"Massimo Calvelli? He holds an important position within RedBird’s sports organization. He joined Milan’s Board of Directors today. He’s a sports professional, formerly with the ATP, and lived in London for several years. RedBird felt he could bring valuable insight. Having an Italian involved in RedBird’s sports activities is positive."
A fan-related issue?
"It began over a year ago with the Lucci case. I learned that in our Curvas, besides chants and support, there were also illegal activities. We absolutely don’t want that to happen. This action by the Milan Prosecutor’s Office caused us a lot of work and concern. Our Curvas have rid themselves of people who should not have any role in supporting Milan, especially if they use it for illegal purposes. We went through a difficult period, but I’m grateful for what we achieved with our supporters.”
Scaroni added:
"Looking at the glass half full, I believe the San Donato initiative helped speed up progress on San Siro. The fact Milan had another negotiation underway was a wake-up call for the Milan municipality."
Would you have liked to have our own stadium?
"Yes, of course. But we have shared with Inter for many years and it has always worked well. It’s been a successful coexistence. Let’s put aside the on-field rivalry, which must exist and does. We are two very similar clubs. A stadium that works for us also works for them. This kind of coexistence would be more difficult in other Italian cities.”
