Milan boost revenues and make a profit

by | Mar 29, 2022 18:11

There is excellent news for Milan, who closed the first semester of 2021-22 with a profit, having grown revenue by 40 per cent.

Calcio e Finanza reported the findings following today’s board meeting, headed by President Paolo Scaroni.

The club was essentially repossessed by hedge fund Elliott Management after previous owner Yonghong Li failed to keep up with loan repayments, having used the borrowed money to purchase Milan from Silvio Berlusconi.

Since then, Elliott have been pursuing a strategy of balancing the books and getting the club back into black.

It is working, helped by qualification for the Champions League for the first time in seven years.

Despite the effects of COVID-19 and the limits on ticket sales, Milan still bucked the trend by boosting revenue by 40 per cent compared to the first semester of 2020-21.

They also sold the Casa Milan building to generate €18m, finishing the semester with a €3m profit.

According to Calcio e Finanza predictions, Milan should end the year with €300m in revenue.

4 Comments

  1. vogel

    Wait…

    Did you just write a POSITIVE article about Milan?!

    I’d better go and put the heating on because I’m expecting hell’s about to freeze over.

  2. JM

    Keep building, Milan, keep building.

  3. Andy

    Milan’s wage bill is very low and it will be up dramatically.
    But still kudos to the club

  4. Feroli

    Good news. Now get the stadium built.

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