Calcio e Finanza are reporting that AC Milan continue their remarkable turnaround and financial improvement as the club has posted a profit in the first half of the 2021/22 financial year. Milan’s board of directors approved the results last week which marks a massive improvement since the takeover by Elliot Management despite the tough conditions of the coronavirus pandemic.
Milan showed a 3 million euro profit for the six month period which largely resulted from growth in revenue which is up 40% compared to the same previous period. Extra income also played a role such as the sale of Casa Milan to a real estate fund which counts for 18 million euros. The club is on track to hit 300 million euros in revenues by end of the year.
Milan also slightly benefitted from Juventus being knocked out by Villarreal in the Champions League as it increased their share of the market pool allowing the Rossoneri to take 10.3 million euros home according to Calcio e Finanza.