At a board meeting on Tuesday, it was announced that Milan actually made a profit in the first half of this year, with significant growth in revenue, in spite of industry challenges due to COVID-19. This followed the news last week that Milan broke back into the top 20 of the Deloitte Football Money League for the first time since the 2017-18 season. We have seen the results of Maldini's project on the pitch since the return from lockdown in 2020, but we are finally seeing the results of the business side growing as well. Milan are winning on and off the pitch.
 |
| Both sectors finally working in tandem for the greater good |
In a year when clubs are still reeling from losses due to the pandemic and Agnelli and friends are still screaming that The Super League is the only answer to save themselves from their own overspending, Milan turned a profit in the first half of the year of €3 million. Sure, that's not much, and it's largely due to the fact that they sold Casa Milan to a real estate company for €18 million, but Milan have not even come close to turning a profit at this point in the season that I can remember for years.
With the selling of the real estate on our players' butts and frequent announcements like the club's new Official Storage and Photovoltaic System Partner this week, revenue is also up 40% compared to the same point in the 2020-21 financial year. That's a tremendous amount of growth at any time, let alone during a global pandemic. Estimates are that Milan will produce €300 million in revenue this year.
 |
| We're number 19!! |
Last fiscal year, revenue was €216.3 million, enough to rank us the 19th highest club in revenue in world football. Of course, Deloitte originally posted the incorrect revenue amount and had to correct their report, because Milan just cannot catch a break anywhere this season. But we made it back to the top 20, even if we had to literally fight our way back.
All of this is great news considering UEFA's new financial sustainability regulations, set to be voted in next week to replace their Financial Fair Play (FFP) guidelines. Our revenue (not coincidentally) is growing at exactly the right time, with reports that Milan and Atalanta are the only two Serie A clubs that currently fit within the new regulations in terms of spending vs. revenue.
 |
| Just think of the revenue. |
Basically, all of this means that Milan are winning on and off the pitch. Now if they could just convince the city to let them build a new stadium.
This post inspired by the music of The Beatles' "Can't Buy Me Love"
Reviewed by Elaine
on
5:20 AM
Rating:
