At a certain point, during that dramatic transition between the Berlusconi glory days and the Chinese ambiguities, Milan had plunged into the depths. On a sporting, financial, and commercial level. Long absent from the Champions League, the Rossoneri brand had become heavily tarnished. Then the Americans arrived, and everything changed. Balanced accounts, a league title, a return to Europe’s elite, the shirt shining again.
The renewal with Emirates, made official yesterday, seals all of this. A partnership that will surpass two decades: begun in 2007, and with the new five-year deal, it will extend toward 2031. The previous agreement had already led Milan to progressively double their income, from a base of 15 million to 30 million in the current season (20–25 last season). Starting next year, there will be another upgrade: Gazzetta dello Sport, in today's print edition, estimates 35 million guaranteed by Emirates in 2026–27, with the possibility of reaching 40 million over the contract, depending on bonuses. This increase will allow Milan to have the richest shirt in all of Serie A.
Excluding technical partnerships and considering only commercial sponsorships, next season’s total will be: 35 million from Emirates, plus 5 each from the confirmed MSC Cruises (sleeve) and Bitpanda (back), for a total of 45 million. First place in the league is assured, since other top clubs already have fixed contracts.
What about Inter and Juventus?
Inter will confirm this season’s figures, which currently place them first: 30 million from Betsson (four-year deal until 2028), 6 from sleeve sponsor Gate.io (if not renewed, another partner will replace it for the same amount), and 5 from back sponsor U-Power (until 2027), for a total of 41 million. The Nerazzurri made the leap a year ago, after the difficult 2022–23 season, when DigitalBits/Zytara failed to meet obligations, and the club had to sign a temporary deal with Paramount.
Juventus are further behind, far from the CR7 era but recovering. Last season, the Bianconeri played without a front-shirt sponsor for the first time since 1980–81. Now they have regained Jeep, which guarantees 19 million. Added to co-sponsor Visit Detroit (4), WhiteBit (5 for the sleeve), and Cygames (4 for the back), the total reaches 32 million. In 2026–27, Juventus will rise to 36 million, due to an increase expected from the partnership with Exor’s automotive brand (the contract with the back sponsor will need renewal).
Milan project in the fast lane
The extension with Emirates was secured thanks to a springtime trip to Dubai by CEO Giorgio Furlani, in the strategic hub of the key Middle Eastern market, where Casa Milan was inaugurated in 2023. It represents another step in the growth process, accelerated by RedBird’s specific expertise and Gerry Cardinale’s connections in media and entertainment.
Consider that seven years ago, total commercial revenue had dropped below 60 million. In 2023–24, it soared to 143 million, and another increase was recorded last year thanks to work done on sponsorships and merchandising under Maikel Oettle’s direction. The once “dormant” brand has been revived, making full use of the potential of a Milan that, under Berlusconi, was Italy’s most popular club abroad. Of course, Europe’s elite remain distant for all Italian sides: from their main sponsors alone, Real Madrid, Manchester United, and PSG each receive 70 million.
