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AC Milan Reduce Their Losses By Half In 2020/21 As Club Is Debt Free

A massive improvement for the club under Elliot Management but much more still to do.

FBL-ITA-SERIEA-AC-MILAN Photo by MARCO BERTORELLO/AFP via Getty Images

MilanNews.it are reporting that AC Milan have closed the 2020/21 financial year with a loss of €96.4 million - which is a huge improvement from last season. The losses for the 2019/20 financial year were 194.6 million, thus the club have effectively halved the losses. The massive deficit for the previous year stemmed from the losses related to the coronavirus pandemic in Italy and across the globe. Milan reportedly do not currently have any debts with the banks nor any bond debts compared to previous years. The financial health really showed in the summer transfer window where Milan managed to spend rather freely compared to the rest of the league who focused on selling players. The two big factors of improvement this year have been the sponsorships off the pitch and the qualification to the Champions League on the pitch.

As repeatedly stated by President Paolo Scaroni and CEO Ivan Gazidis, the next step needs to be the stadium. Only then will Milan truly boost their revenues to the levels of Juventus in Italy and other major clubs abroad.