According to Calcio&Finanza, Milan ended the 2022-23 financial year with a €6m net profit, the best result since 2006, and over €400m revenue.
The Rossoneri’s shareholders meeting will soon approve the balance sheet for 2022-23, but Calcio&Finanza has already reported some key figures from Milan’s books.
The Rossoneri have reportedly cancelled out €66m losses from 2021-22, ending the latest financial year with a €6m net profit.
It’s the best result since 2006, when the Rossoneri recorded a profit of circa €2.5m. The Serie A giants had ended every financial year with losses since that season, with the ownerships of Silvio Berlusconi, Yonghong Li and Elliott.
According to Calcio&Finanza, Milan’s revenue rose to over €400m in 2022-23, compared to €297m in 2021-22. The improvement is due to Champions League income and sponsorships boosted by more than €44m compared to 2021-22.
Last season, Milan spent €50m more than in 2021-22 to sign new players and the worth of the consolidated net assets to June 30, 2023, was €117m, an improvement from €131,23m in June 2022.