By Federico Calabrese
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Index
In recent years, AC Milan has embarked on a virtuous path not only on the sporting front but also — and perhaps above all — on the economic and commercial level. In a constantly evolving football landscape, where TV rights revenues are beginning to show signs of stagnation and competitiveness is increasingly measured off the pitch, the Rossoneri club has decisively focused on brand enhancement and the expansion of its commercial income, starting with sponsorships.
Milan’s Partners
Milan’s main commercial partner remains Emirates, the airline giant from the United Arab Emirates, which has featured on the club’s jerseys for over a decade. In the summer of 2025, the club announced the renewal of this agreement through to 2030, with a total deal worth around €100 million, or approximately €30 million per year — a record figure for the club. This renewal, strongly desired by both parties, not only confirms the solidity of the relationship but also highlights Milan’s growing value as a global visibility platform.
Puma
Alongside Emirates is Puma, the club’s technical sponsor, with whom Milan has signed a multi-year agreement worth another €30 million annually. The deal with Puma goes far beyond the simple supply of kits: it’s a strategic collaboration that involves the club in global marketing projects, lifestyle collections, and products aimed not only at fans but also the general public. In short, it’s a partnership that aims to transform Milan into a reference brand not only in football but also in the world of sports fashion.
Other Sponsors
But that’s not all. Several smaller, yet still significant, sponsors have joined over time to strengthen Milan’s commercial portfolio. These include MSC Cruises, which appears as the sleeve sponsor and contributes an estimated €5 million per year, and Bitpanda, an investment and crypto platform featured on the back of the shirt with a similar level of investment. Although these deals don’t have the same visual impact as the main sponsors, they are crucial in building a diversified and sustainable commercial structure.
Overall, sponsorship revenue for the 2023/2024 season reached €90.5 million, a significant increase from the €80.7 million of the previous year. When adding royalties, licensing, and various commercial agreements, the total climbs to €143.4 million, highlighting the work done to make Milan an attractive asset for international partners.
These figures are not just numbers. The consolidated financial statement as of June 30, 2024, showed a net profit of €4.1 million, the direct result of increased revenues and cost containment. Milan has managed to record two consecutive profitable financial years, something that hadn’t happened for over 15 years, thanks in part to the strategy of owners RedBird Capital and the management team led by Giorgio Furlani and President Paolo Scaroni. The vision is clear: to build a self-sustainable club, capable of financing its sporting project without relying on extraordinary capital injections or forced player sales.
One standout figure gives a clear sense of this transformation: according to the Football Money League published by Deloitte, Milan ranked as the top Italian club in terms of non-player trading revenues, with over €397 million in that category. It’s a clear sign that the Milan brand is once again competing among Europe’s elite, not just on the pitch but also in marketing and business.
Of course, not everything is perfect. Compared to Europe’s top clubs, Milan still has ground to cover: clubs like Real Madrid, Manchester City, Bayern Munich, and PSG have main sponsorship deals worth upwards of €60–70 million annually. However, considering Milan’s starting point and the Italian context, the progress made is impressive. The club’s internationalization strategy — with a focus on the Middle East, Southeast Asia, and North Africa — is beginning to pay off, as shown by recent summer tours and regional commercial activations.
On the stadium front, Milan is also looking to the future with ambition. The construction of a new stadium would significantly boost matchday and hospitality revenues, which are currently limited. If properly managed, such a facility could become a major engine for commercial growth: naming rights, non-football events, local sponsorships, official stores, and food & beverage opportunities are all segments that could further increase revenue.
Conclusion
In conclusion, sponsorships have become one of Milan’s most strategic assets. It’s not just about logos on jerseys or banners around the pitch — behind every deal lies an industrial vision, a growth plan, and a relationship with both local and global markets. The 2025 version of Milan is a club that has regained European competitiveness thanks in large part to the strength of its commercial model, where sponsorships are not an “extra” but a core pillar of the project. And if sporting results continue to support the brand’s value, it is entirely reasonable to expect even bigger numbers ahead, both on and off the pitch.
