Italian soccer giants AC Milan have once again recorded record revenue in their latest set of financial statements, with the period in question, the 2024-25 season, also notching the club’s third straight annual fiscal profit.
Over the financial year that ended on June 30, the club generated €495 million ($573 million) in revenue, up by around 8% from the club’s takings in the 2023-24 campaign (a then-record €457 million).
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Over the season, Milan competed once again in the UEFA Champions League, Europe’s elite (and most lucrative) international club competition, reaching the knockout phase playoffs and playing 10 games in that competition in total, four more than a season prior, with the competition’s new format granting participants more games, and as such more turnover from broadcast and matchday sources.
In terms of sponsorship, deal value increased overall by seven figures, although volume fell, as the club seemed to take a more selective tack with its partnership portfolio, adding brands such as Asus and Dyson , while elevating existing partnerships with the likes of Bitpanda.
Another factor in this revenue growth streak is the continued success of the club’s player trading model, having sold players such as Tijjani Reijnders in advance of the summer FIFA Club World Cup, meaning that although the transfer came into effect for the 2025-26 season, it fell into the 2024-25 accounting period.
All this has led to an overall net profit of €3 million, holding steady from the €4.1 million profit the club made in 2023-24, a signifier that while the club continues to invest heavily in players in the transfer market, the club’s ownership, private equity firm RedBird Capital Partners, sees fiscal sustainability as a primary goal.
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By GlobalDataPrior to RedBird’s acquisition of the club in 2022, Milan had not recorded a fiscal profit in 17 years, before doing so in the 2022-23 campaign.
While this new focus has helped stave off the financial woes suffered by city rivals Inter Milan and other Italian Serie A sides, it remains the case that the club has won only one trophy, the 2024-25 Supercoppa Italiana, under the new US ownership.
Looking forward, in the current 2025-26 season, Milan are without European football altogether as a result of a poor domestic finish to the previous domestic campaign. As a result, it is likely that the club’s consistent revenue growth will stall somewhat, although a successful title-winning campaign would ameliorate that.
However, at least the lingering issue of the ownership of the iconic San Siro stadium where Milan play their home games seems to have been resolved, with Milan and bitter rivals Inter taking control of the venue ahead of its forthcoming redevelopment. While costly, this does open up a pathway for further revenue growth as both teams can better capitalize on matchday turnover now that they own their own stadium.
In terms of new revenue streams, the 2025-26 season will see the club become the first Serie A side to play a regular-season game outside of the country when it faces Como in Perth, Australia, as was recently approved by European soccer's governing body UEFA.
It is hoped that that fixture can grow the league's global profile and attract more revenue from international sources for both the clubs, and the league itself.
In terms of the 2024-25 financial years for other Italian Serie A heavyweights, meanwhile, although Milan generated record revenue once again, the club still lagged behind rivals Inter and Juventus, both of which posted their figures at the end of September, with each securing over €500 million in revenue.
Inter posted revenues of €567 million ($666.2 million) for the year, which they claim is the highest ever and a record for Serie A net of player trading, and closed the year with a net profit of €35.4 million.
Juventus, meanwhile, posted a €58 million loss in the season, despite revenue growing significantly to €529 million in the 12 months, from €394 million a year prior.
Per the GlobalData Sport business of Serie A report 2024-25, Milan also lag behind both Inter and Juventus in terms of sponsorship income, and had fewer sponsors than Inter as well.
