AC Milan Records First Profit in 17 Years with Record Revenue

Soccer club's financial turnaround driven by record €404.5m ($431.4m) revenue, an increase in media and TV rights, and growth in commercial revenue and sponsorships, under the stewardship of RedBird Capital Partners.

AC Milan, the Italian soccer club, reported a record profit of 6.1 million euros ($6.51 million) for the 2022-23 financial year, the first time the club has been in profit since 2006.
The financial turnaround has been driven by a record revenue of 404.5 million euros ($431.4 million), which is about a 100 million increase from the previous year.
The rise in revenue was largely due to the team's success in reaching the Champions League semifinals last year, which led to increased media and TV rights of 41.8 million euros ($44.6 million) and growth in commercial revenue and sponsorships of 44.4 million euros ($44.6 million).
Since reporting a club record deficit of 145.9 million euros ($161.2 million) in 2019, AC Milan's finances have seen significant improvements, first under the stewardship of hedge fund Elliott Management and later under RedBird Capital Partners.
RedBird Capital Partners, the current owners of the club, have invested an additional 40 million euros to advance plans for a new stadium, as AC Milan currently shares the San Siro stadium with its city rivals, Inter.