AC Milan Slip to €24m Net Loss for 2025/26 as European Absence Bites

FolioPitch.com – 29 October 2026 | AC Milan have confirmed a return to financial red ink, announcing that Milan post €24m net loss for 2025 26 after failure to qualify for Europe, ending a two-year run of positive results. The club’s shareholders’ meeting on Thursday approved the financial statements for the fiscal year ending June 30, 2026, revealing revenue of €464.6 million alongside a net loss of approximately €24 million. The figure marks a sharp reversal from last season’s modest €2.9m profit and underscores how deeply sporting outcomes can ripple through a club’s balance sheet.

The primary driver of the deficit is the Rossoneri’s absence from any UEFA competition, a scenario that stripped an estimated €70-80 million from projected revenues. That shortfall was only partially offset by an impressive €86 million profit from player sales and growth in sponsorship income. In effect, Milan post 24m net loss for 2025 26 after failure to qualify for Europe, a headline that club executives are framing as a test of resilience rather than a structural crisis.

Scaroni Defends Business Model

Chairman Paolo Scaroni sought to reassure stakeholders, describing the results as evidence of a robust underlying strategy. “These results demonstrate the resilience of our business model in a challenging season,” Scaroni said. He credited owner Gerry Cardinale and investment firm RedBird for their long-term commitment and operational expertise, insisting that sporting competitiveness remains the club’s top priority. Scaroni also pointed to the appointment of Massimo Calvelli as CEO and the imminent unveiling of the new stadium design as proof that Milan are building for the future rather than merely patching over a difficult year.

The financial disclosure comes on a busy day for the club, with a joint press conference alongside Inter Milan to present the final design for a new stadium to be built adjacent to the existing Stadio Giuseppe Meazza, eventually replacing it. The two clubs purchased the land in the San Siro area in November 2025, and the sale was only recently cleared after appeals to block it were rejected. Milan post 24m net loss for 2025 26 after failure to qualify for Europe, but the stadium project is being positioned as a transformative investment for the club, its fans, the city and Italian football as a whole.

Player Trading Softens the Blow

Milan’s ability to generate €86 million from player sales proved crucial in limiting the damage. The club has increasingly leaned on its scouting and development pipeline to create trading profits, a model that helped deliver two consecutive years of positive results before this setback. However, the loss of European football not only removed matchday and broadcast income but also reduced the club’s visibility on the continental stage, a factor that can influence sponsorship valuations and player recruitment.

The accounts also reflect a season in which Milan competed without the midweek rhythm of European fixtures. Photographs from the period show Luka Modric in Salzburg during a Europa League league-phase match in October 2026 and Rafael Leao in action during a pre-season friendly in Perth, but the club’s competitive calendar was notably lighter than those of its Serie A rivals. That absence is precisely why Milan post 24m net loss for 2025 26 after failure to qualify for Europe, a financial reality that the board must now address while rebuilding the squad.

What Comes Next

With the fiscal year closed, attention turns to how Milan will restore European qualification and, with it, the associated revenue streams. The club’s leadership is betting that continued investment in the squad, a new CEO and the long-awaited stadium project will create a more stable financial platform. Yet the €24m loss serves as a reminder that on-field performance remains the single biggest swing factor in Milan’s economic health.

For now, the Rossoneri are presenting the result as a one-off consequence of a difficult campaign rather than a warning sign. Whether that narrative holds will depend on the club’s ability to return to European competition and convert sporting ambition into financial recovery. What is certain is that Milan post 24m net loss for 2025 26 after failure to qualify for Europe, and the coming seasons will reveal whether this year proves to be an anomaly or the start of a more persistent challenge.