AC Milan gains financial support with its sights set on its new stadium. ACM Bidco BV, largest shareholder of AC Milan, has injected forty million euros to continue with the new stadium projectaccording to Football and Finance.
The objective of the capital increase is “cover the expenses and investments related to the new stadium project and reinforce the capital of the parent company,” states an internal document to which the aforementioned media has had access.
At the end of the shareholders meeting, the president of the club Red-black, Paolo Scaroni, stated that “we are advancing in San Donato, studying all the financing hypotheses and working on it; Until the variant is approved, there will be no need for additional expenses beyond the forty million expenses of the preliminary project.”
At the end of September, the Italian team presented to the City Council of San Donato (Milan) a urban variation plan for the area in which it plans its new stadiumwith capacity for 70,000 fans.
AC Milan earned six million in 2022-2023 after almost twenty seasons in the red
The objective of the proposal presented by the Italian club is to improve the area, thanks to the creation of a new Porta di Milano and the connection between San Donato and the Abbey of Chiaravalle. “The proposal is designed to create a unique infrastructure center in the area, including railway, metro and highways,” the club said in a statement.
In July 2022, Milan City Council rejected two proposed referendums for a new stadium with the aim of safeguarding the existing structure, proposed by the Referendum Per San Siro group. The council believed that they were proposals with a lack of technical and accounting feasibility.
Given the differences between the parties, Scaroni highlighted that “if the municipal administration had accepted the project four years ago and made it its own, we would have already built the stadium.”
AC Milan earned six million in 2022-2023 after almost twenty seasons in the red and accumulating 957 million euros of losses since the 2013-2014 season. Billing increased 35% year-on-year, driven by sponsorships and the commercial area. AC Milan renewed Emirates as main sponsor at a rate of thirty million per season, approaching the disbursement of Puma as the team’s technical sponsor.
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