Milan post €24m net loss for 2025/26 after failure to qualify for Europe

REGGIO NELL'EMILIA, ITALY - OCTOBER 11: Gerry Cardinale of AC Milan looks on prior to the Serie A match between US Sassuolo and AC Milan at Mapei Stadium - Citta' del Tricolore on October 11, 2026 in Reggio nell'Emilia, Italy. (Photo by Emmanuele Ciancaglini/Getty Images)

Milan approved the financial statements for the fiscal year ending June 30, 2026 and returned to a net loss of €24m after two years of positive results.

The club held its shareholders’ meeting today and released a formal statement confirming the details.

They closed the 2025/26 fiscal year with revenue of €464.6m and a net loss of approximately €24m.

This is after the Rossoneri registered a profit for two years running, which last season was at €2.9m.

Milan sporting results damaged financial prospects

A significant portion of that difference is down to the failure to qualify for any European competition, which took away circa €70-80m in revenue.

This was only partially compensated by the impressive €86m profit from player sales and increased revenue from sponsorships.

“These results demonstrate the resilience of our business model in a challenging season,” said Milan chairman Paolo Scaroni.

“Gerry Cardinale’s leadership, combined with RedBird’s long-term investment and operational expertise, has driven the Club’s progress and continues to shape its future, with sporting competitiveness remaining the key priority.

“The appointment of Massimo Calvelli as CEO reflects this direction. And the new stadium, whose design we will unveil today, demonstrates the value of this approach: a transformative investment for AC Milan, our fans, the city of Milan and Italian football.”

The press conference is being held today between Inter and Milan to present the final design for the new stadium that will be built next to the existing Stadio Giuseppe Meazza, eventually replacing it.

The two clubs came together to purchase the land in the San Siro area of the city in November 2025, but it was only recently given the all-clear after appeals to block the sale were rejected.