Milan’s Business Plan 2018-22 – Yonghong Li’s new Chinese Milan, led by CEO Marco Fassone, aims for strong revenue growth over the next five years. According to Carlo Festa, a journalist for the Italian newspaper Il Sole 24 Ore, Milan’s business plan highlights that revenues will go up as follows:

  • Season 2015/16: €206.3 million;
  • Season 2016/17: €196.2 mln;
  • Season 2017/18: €273 mln;
  • Season 2018/19: €426.2 mln;
  • Season 2019/20: €447.5 mln;
  • Season 2020/21: €486.1 mln;
  • Season 2021/22: €524 mln.

Milan’s business plan is based on the voluntary agreement proposal that UEFA will evaluate next autumn.

Milan’s revenues will, therefore, double in the next five years.

As Carlo Festa explained, the growth of the Chinese market will be a key factor to trigger Milan’s forecasted increased revenues. In order to face this remunerative market, the Rossoneri are setting up the newco Milan China.

According to the AC Milan 2018-2022 business plan, approximately €90 million more will be added in Milan’s coffers. In 2018/2019, the turnover from the Great Wall will go up to €183 mln. At the end of 2020 revenues from China should go up to €196 mln, in 2021 to €213.5 mln, and in 2021/2022 to €225 mln.

No doubt that these are very ambitious numbers. UEFA will verify the accuracy of these forecasts in the coming months.

Book Milan Herbert Kilpin
A choreography of Milan fans during a derby (Photo:

Milan’s Business Plan 2018-22 – Other sources of revenue

TV revenues (excluding TV rights in UEFA competitions) should go from €98 million in 2016/2017 to €107 mln at the end of 2022.

Revenues from sponsors should rise from €76 million in 2017 to €84 mln in 2022.

Those from the stadium from €22 million in 2017 to €40 mln in 2022.

UEFA TV rights revenues should go from €46 million in the 2018/2019 season, when Milan is expected to return to the Champions League, to €68 mln in the 2021/2022 season.

Milan’s Business Plan 2018-22 – Costs

The most significant costs are those of the staff (going from €142 million to €252 mln) and those to be covered to enter the Chinese market (which will grow from €40 million to €89 mln).

The EBITDA (post rights players) should reach over €127 million in the 2021/2022 season.

In short, these are very ambitious numbers that Yonghong Li and CEO Marco Fassone will have to prove to be credible.