The two clubs created a sustainable economic and financial model and virtuous management: revenues from the box office and sponsors increase
Both are in the upper neighborhoods of the ranking and among the companies … more virtuous in Serie A. Milan and Naples currently smile for the results of the field, but also for the accounts. All this despite having the most paid technicians in the championship and this summer were the Italian clubs that spent the most for the purchase or loan of the players. Both companies, even if in different ways and times, have created a sustainable economic-financial model and virtuous management, the only solution to survive (obtaining results) in an Italian football that has a quarter of TV rights revenues compared to the premier and old stadiums, as well as not very profitable.
Rossoneri turning
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After the farewell of Silvio Berlusconi and the Chinese management, Elliott restored the Milan balance by entering hundreds of millions of equity and working on the growth of revenues. Redbird, the current owner fund, continued on this road, with the AD Furlani confirmed the reference point of reference, and is about to fire the third consecutive budget in profit: within the first week of October the board is scheduled that will certify a new profit, in addition to the record of revenues (404 million in 2023-24 will be exceeded). The sports project is at the center of everything and not surprisingly the revenues, including the money that came from the sales (Reijnders, Thiaw, Theo Hernandez and Okafor the main ones), have been reinvested on Nkunku, Jashari, Ricci and Rabiot, four of the most important shots. The departure of the Dutch to City (for 57 million plus bonuses) has made a decisive contribution to closely close the 2024-25 budget. The investments in players’ cards in last summer were 165 million: excluding the premier clubs, which have other parameters, in the rest of Europe only Atletico Madrid and Bayer Leverkusen have spent a higher figure. In the Rossoneri Budget 2024-25 there will be 60 million arriving from UEFA for the sporting results of the last Champions and 67 from Serie A. In addition of course to the box office proceeds, with the devil who had the first public in Serie A as media spectators to meeting, and to the sponsors of the shirt. Thanks to the renewal (with increase) of Emirates, in 2025-26 the figure that will come from the brands on the Rossoneri uniform (Emitares, Puma, MSC and Bitpanda) will even exceed 70 million. Football Benchmark estimates the current AC Milan Enterprise Value in 1.8 billion, i.e. 1.75 net of financial debts. Difficult to foresee it in 2018 …
Blue continuity
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The third consecutive budget in profits will probably not arrive after over 140 million assets in 2022-23 and 2023-24, but despite this the Napoli model also works. The two championships won in the last two years and accounts certify it. De Laurentiis in the last transfers campaign spent 151 million, in series without only Milan, but if the conditions for Hojlund’s redemption will materialize, in the end the figure will touch the 200 million. In fact, all the money arrived from Kvaratskhelia and Osimhen’s farewells with an addition of a few dozen millions were reinvested. It is not new for ADL that has often done everything possible on the market to satisfy its technicians. Returning to the accounts of 2024-25, the departure of the Georgian at the PSG last January mitigated the red in a year that otherwise, without the proceeds of the European cups, would have been economically difficult. An important part, however, also made the victory of the Scudetto which allowed the Azzurri to collect 68 million from the League, in practice as much as Milan, and to increase the proceeds from a box office. The gap of revenues with the Rossoneri is remarkable above all in terms of shirt sponsor (MSC and Sorgenia yields 12 million), but on the other hand the salaries are less than fifty millions. Furthermore, Napoli, as of June 30, 2024, had a net assets of 212 million and liquidity for 210, with football benchmark that evaluates the club 1.1 billion.
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