September 30: Historic Italian club AC Milan contributed €464.6 million in 2025-26 without a single euro from European competition. But they still recorded a loss of 24 million euros.
Revenue was down 6% in 2024-25 but up 1.7% on 2023-24, keeping the club close to the record levels of the past two seasons. The board has approved the draft accounts for the year to 30 June 2026, and they now go to shareholders for approval.
The most prominent number is sponsorship. It topped €100 million for the first time in the club’s history, and that’s what kept the top line up without UEFA money coming in. Brand Finance values the Milan brand at €514 million, up 28% year-on-year, and calls it the fastest-growing football brand in the world from 2021.
The crowds also keep coming. Milan averaged more than 72,000 per Serie A game at home, the best in the league for the second consecutive season.
Net financial debt rose to €145.3 million from around €92 million, mainly due to credit lines intended to finance long-term investments and projects and the net loss of around €24 million, which the club attributes to not participating in European club football. The net worth is 176.4 million euros.
The long-term answer to profit is the stadium. In November 2025 Milan and Inter completed the joint purchase of San Siro and the surrounding grounds. A new venue means premium hospitality, more commercial space and money on non-match days, and the clubs control the asset.
Contact the writer of this story at (email protected)