Raimondo: Milan to record around €450m revenues in 2023-24 – the breakdown

AC Milan’s financial situation continues to improve and the margins for making more investments in the upcoming transfer window are increasing.

According to what Felice Raimondo has reported on his Substack, Milan’s revenues went up by €106.9m from 2021-22 to 2022-23 thanks to the following:

➤ The increase in sponsorships and merchandising (overall approximately €130m);
➤ The Champions League campaign (€87.9m);
➤ Ticket sales from domestic and European games (€72.8m).

Undoubtedly the sporting results in the Champions League have had a significant impact on the final revenues, and we can now begin to draw some conclusions from the 2023-24 season too.

Audiovisual revenues from Serie A will be substantially identical if not slightly better due to the better position that the club will obtain in the league table (third or second place is assumed), but there will be a drop in Europe by about €33m due to Champions League group stage elimination.

Income from sponsorships will undergo a clear increase thanks to the new PUMA and Emirates contracts which started from 1 July 2023 (therefore from the current financial year, increase of €15m each to total €30m) and thanks to the new sleeve sponsor MSC (€5m per season). The overall increase: €35m.