Official: Shareholders’ Meeting approves AC Milan financial statements including €24m net loss

Not long before the unveiling of the new stadium project, the AC Milan Shareholders’ Meeting took place to approve the accounts for 2025-26.

The club’s official website confirmed that the Shareholders approved the financial statements for the fiscal year ended June 30, 2026. The Group closed the 2025-26 fiscal year with revenue of €464.6m and a net loss of approximately €24m.

The solid and diversified business model built over recent years, supported by operational excellence and cost control, enabled AC Milan to absorb a significant portion of the financial impact of its absence from European competitions.

Commercial performance remained strong, with sponsorship revenue exceeding €100m and average attendance surpassing 72,000 fans per match, the highest in Serie A for the second consecutive season.

They also add that Milan are ‘entering a new phase of investment’, supported by RedBird’s long-term commitment and owner-operator approach, combining capital, operational expertise and execution capabilities to drive the Club’s growth and competitiveness.

Paolo Scaroni, Chairman of the Board of AC Milan: “These results demonstrate the resilience of our business model in a challenging season. 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.”

One of the key aspects RedBird are continuing to work on is the new stadium project, which as mentioned was revealed last night. Following the acquisition of the San Siro area in November 2025, it is the next step towards unlocking more revenue opportunities.

For the second consecutive year, Milan also published its Sustainability Report alongside its financial statements. Through Fondazione Milan, the Club harnesses the power of football as a catalyst for positive social change, promoting education, inclusion and wellbeing.