Italian soccer club AC Milan has recorded a profit for the first time in nearly two decades. Milan reported a profit of $6.51 million for the 2022-23 financial year at a shareholders meeting. That compares to losses of $66.7 million last year. It is the first time Milan has been in the black since 2006.
FILE - AC Milan players celebrate after Olivier Giroud scored during the Champions League quarterfinal second leg soccer match between Napoli and AC Milan, at Naples’ Diego Armando Maradona stadium, April 18, 2023. Italian soccer club AC Milan has recorded a profit for the first time in nearly two decades. Milan reported a profit of 6.1 million euros for the 2022-23 financial year at a shareholders meeting on Monday Oct. 23, 2023. Milan reported a profit of 6.
“Combining sporting performance, global competitiveness and financial sustainability in soccer, when on a virtuous path, is possible: the financial statement that has just been approved is a testament to that,” Milan president Paolo Scaroni said. “This marks an important step in our club’s history with a return to net profit after 17 years.
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