The AC Milan board has signed off the draft accounts for the year ending 30 June 2026, pending shareholder approval, the club said.
Milan pulled in €464.6 million in 2025/26, barely shy of the back‑to‑back records. Revenue rose 1.7 % on 2023/24 and sat just 6 % below the 2024/25 level, a dip caused by missing European play.
Core streams stayed strong. Commercial deals kept climbing, pushing sponsorship income over €100 million for the first time. Matchday figures were solid too, with the club topping Serie A attendance for a second year, averaging more than 72,000 fans. Ongoing cost‑control measures also helped keep expenses in check.
Brand Finance valued Milan at a record €514 million in 2026, a 28 % jump year‑on‑year, cementing its status as the fastest‑growing football brand worldwide since 2021.
The accounts show a net loss of roughly €24 million, reflecting the short‑term hit from missing European competition while underscoring the club’s diversified business model.
Milan failed to qualify for any European tournament in 2025‑26, finishing fifth in Serie A and missing the Champions League.
After the top‑four slip, the club dismissed coach Massimiliano Allegri, leaving the Rossoneri to play in the Europa League.
Ruben Amorim, the former Manchester United boss, took over on a three‑year deal signed last summer at San Siro.
Year‑end net financial debt rose to €145.3 million from about €92 million a year earlier, while shareholders’ equity stood at €176.4 million, Milan added.
The debt increase mainly stems from credit lines used to fund the club’s investment plan, growth projects and long‑term development.
With a solid financial base, Milan now moves into a new growth phase under RedBird’s owner‑operator model, blending long‑term capital with operational know‑how. During the year, Massimo Calvelli was named CEO while remaining an operating partner at RedBird.
The Serie A giants reaffirmed plans to build a new stadium in the San Siro district.
The club said its sporting ambition stays at the heart of its strategy, backed by substantial investment.
The new stadium remains Milan’s biggest long‑term project. A key milestone came on 5 November 2025 with the acquisition of the San Siro Great Urban Function, covering Stadio Meazza and surrounding land.
The development is expected to boost the club’s economic profile, unlock fresh growth avenues and reinforce Milan’s capacity to fund sustainable sporting success and global competitiveness.
Milan have collected 11 points from five Serie A fixtures, remaining unbeaten with three wins and two draws.