Reports: Milan closed the financial year of 2020/21 with a loss of €96.4m, a big improvement over the previous year

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Casa Milan on April 24, 2019. (Jonathan Moscrop Sportimage)

Milan have made very big steps forward financially over the last term, as they report losses of €96.4m.

The sporting project of Elliott and of Milan is bearing fruit, as evident by watching the boys of Stefano Pioli every three days on the pitches of Serie A and now also that of the Champions League.

But the financial project, led by CEO Ivan Gazidis and President Paolo Scaroni, also appears to be working well for Milan.

As reported by Calcio e Finanza’s Marco Sacchi, and then confirmed by Milannews.it’s Pietro Mazzara, Milan closed the financial year on June 30, 2021, €96.4 million in the red. This is a huge improvement over last year, as in 2019/20, Milan reported losses of €194.6 million.

Last year’s budget was heavily impacted by the Coronavirus with revenues dropping to €192m, also due to the lack of European football in 2019/20, and costs increasing to €378m. However, the management managed to “reverse the trend”, significantly reducing losses compared to last year. The financial project rose together with the sporting one of Paolo Maldini and Frederic Massara.

Paolo Scaroni and Ivan Gazidis during training at Milanello. (@acmilan.com)

Milan meanwhile continue to not have any debts to the banking system and no bond debts. In addition, they were able to spend around €70m in the last mercato. “We were among the few in the world in a position to invest in the summer, Milan are growing from an economic point of view“, Gazidis, who is currently in the United States, said in an interview with il Corriere della Sera.

The thing the Rossoneri truly miss, as they do many other clubs, is a club-owned stadium. Scaroni is pushing hard to get the project approved, but Italian bureaucracy is proving to be an issue.

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MilanEstonia
MilanEstonia
25 days ago

Kudos to Elliot, Gazidis & Co for this! The Chinese left us in rumbles with their mediocre management of such a prestigious club like our Milan! Instead of acting like a proper vulture fund and selling everything for scraps they raised our value by investing and stabilizing the club with hiring the right people and businesses. We aren’t like Real or Man U in terms of revenues earned yet but we’re surely getting there and pretty fast at it. Fans have also been really patient and it’s paying off. Few more years, and I think we’re going to be back… Read more »

Ronaldinho80
Ronaldinho80
25 days ago

Great news but i will ask you guys somethinh off topic. You guys think that is pissible that Donaruma has always wanted to go to Juventus he just did not want to go directly. I have read from multiple sourses that he is unhapy at PSG and maybe next year he is going to Juve what would be in accordance with his initial plan. I KNOW THIS IS NOT IMPORTANT i just wanna know what do yoz guys think. BTW i am more than happy with our golie.

Ronaldinho80
Ronaldinho80
25 days ago
Reply to  Ronaldinho80

A have a filling that he is going to and up at Juve with the same salary Milan had been offering to him before PSG

Ink
Ink
25 days ago
Reply to  Ronaldinho80

Nope.
Many Milan fans (excluding me) already hate him.
This cannot be not a pre-meditated plan. If he wanted to join Juve, or Juve wanted him, he would have.
The situation is the same at PSG. He cannot be undisputed starter when there is Navas. Similarly he could not be undisputed starter at Juve when there is Szczęsny.

Niels8
Niels8
25 days ago
Reply to  Ink

Gigio isn’t playing because Navas is good enough and apparently has good support from fellow Latin American players.
In Juve the situation would be different. Szczesny is making a lot of mistakes and Gigio is currently better than him.

Oluwashevy
25 days ago
Reply to  Niels8

I feel he will be a starter in juventus compare to psg he is Italian and he is better than szczesny

Milan10
Milan10
25 days ago
Reply to  Ink

“Many Milan fans (excluding me) already hate him.” as we should. the guy and his fat agent held milan hostage for ransom TWICE in 4 yrs whereas real milanista rino refused to take home his rightful 5.5m when he and milan mutually terminated his contract. donna might be great gk but he possesses no character whatsoever as human being. “If he wanted to join Juve, or Juve wanted him, he would have” he DID say to maldini that he’d do what fatso told him and that fatso offered him to half of europe, including juve, but eventually they rejected him… Read more »

Nino
Nino
25 days ago
Reply to  Ronaldinho80

Raiola offered Donnarumma to Juve, but because of the financial situation they couldn’t sign him. They already have a high earning goalkeeper and can’t afford to have another high earning goalkeeper warming the bench.

It’s the same reason none of the big clubs could not afford to sign him. They all have top gk with high salary. Only PSG could. I doubt Juve can get Donna. Kaylor Navas is getting old. Give or take, PSG would rather sell Navas than Donna.

Milan10
Milan10
25 days ago
Reply to  Ronaldinho80

well, u already answered ur own question: “I KNOW THIS IS NOT IMPORTANT.” who gives a shit where that money-hungry manwhore plays? iron mike maignan already took the baton from the snake and milan defense is better than ever mainly because of the eagle.
snake < eagle. case closed

Milan10
Milan10
25 days ago

lol why do some “milanisti” praise nazidis for this? he couldnt even make milan earn better kit sponsorship deal than fiorentina, roma and sassuolo with their respective kit sponsors. in 19/20 milan recorded the worst lost in their entire history. how’s that for savvy business. anyone who actually does his research knows this “achievement” is mainly due to milan doing well in serie a, participation fees from europa “nothing” league AND (probably) ucl, savvy mercati activities and the most important of all: much lower wage bills. people (read: the uninitiated) were bitching (of course) when maldini tried hard to lowball… Read more »

rich16
rich16
24 days ago
Reply to  Milan10

shirt sponsor deals for juve, fiore and sassuolo are fake. it’s their sister/parent companies. Inter gets a lot of money from socios.com. Largest deal in the league.