AC Milan, the true figures behind Theo Hernandez, Thiaw and Morata’s departures: official figures in the 2026 financial statements, with proceeds also from Colombo and Pobega

Thiaw more than Theo, what a cut-price sale for Morata and Emerson Royal!

AC Milan's accounts for the year ended 30 June 2026, due for approval at the club's shareholders' meeting, reveal the official figures for many outgoing transfer deals, permanent sales and purchases by other clubs completed during Igli Tare's tenure.

As reported by Radio Rossonera, the figures exclude potential bonuses that may yet be triggered or may have been triggered after 30 June. Those bonuses do not affect last season's accounts.

Accounts in the red

AC Milan have posted a loss after three consecutive years of profits from 2023 to 2025. The loss as at 30 June 2026 stands at around €24 million. Turnover is around €464 million, with revenue down approximately 6% compared with the 2025 accounts because the club did not take part in cup competitions.

Thiaw more than Theo

With the sale of Reijnders to Manchester City recorded in the 2025 accounts, Malick Thiaw's move to Newcastle brought in the most money for the club: €34.1 million excluding bonuses.

That was well above the €25 million the club received for Theo Hernandez's move to Al-Hilal.

Jimenz, Okafor and the collapse of Emerson and Morata

Alex Jimenez's departure brought in €18.5 million, below €20 million. He is now at Fiorentina and was sold to Bournemouth, while the fee for Okafor's move to Leeds stands at €18 million.

Just one year after they were signed, Emerson Royal and Morata were sold on for €9 million and €11 million respectively. Their fees have plummeted.

Proceeds also from Adli, Pobega and Colombo

Adli's move to Al Shabab brought AC Milan €5.2 million. The club also received €7.6 million from Genoa for Colombo and €4.9 million from Bologna for Pobega after both clubs exercised their options to buy.