Milan has published its 2025/26 financial statements, revealing a negative net result of approximately 24 million euros. The club recorded overall revenues of 464.6 million, with a notable contribution from sponsorships (over 100 million) and an average of over 72 thousand spectators per match, the highest figure in Serie A for the second consecutive year. The loss was mitigated by financial discipline and operational efficiency, which allowed the economic impact of the club's absence from European competitions to be absorbed.
At the shareholders' meeting, held on 29 October, the consolidated financial statements approved by the Board of Directors in September were illustrated. President PaoloScaroni underlined the solidity of the business model, highlighting the decisive role of GerryCardinale's leadership and RedBird's investments. It also announced the appointment of MassimoCalvelli as CEO, confirming the strategic direction focused on sporting competitiveness and the expansion of the club.
The press release announced a new chapter for the future of Milan: the presentation of the architectural project of the new stadium, following the acquisition of the SanSiro area in November 2025. The project, accelerated thanks to the vision of RedBird, aims to transform the fan experience, generate new sources of revenue and strengthen competitiveness at a European level. The initiative is part of a broader strategy that involves long-term investments and an owner-operator model, which combines capital, operational expertise and execution capabilities.
Furthermore, the club published the Sustainability Report together with the financial statements, continuing the ESG reporting path. Milan was the first unlisted Italian club to publish the two documents simultaneously, demonstrating a commitment to transparency and accountability. Through the Milan Foundation, the club promotes education, inclusion and well-being, creating opportunities for young people and communities in Italy and abroad.
With these developments, Milan is preparing for a new phase of investments and an ambitious project for the future of the stadium, keeping sporting competitiveness as its main priority. The next step will be the concrete construction of the new stadium and the implementation of sustainability initiatives, which will have to further consolidate the club's position both on and off the pitch.