Italian media analyzes Milan s transfer operations this summer: It has a positive effect of about 74.8 million euros in fiscal year 24/25

August 17th, Italian media calcioefinanza analyzed AC Milan's spending on balance of revenue and budget in the transfer market so far.

Between the acquisition and sale, there is still one week before the start of Serie A. Here is the breakeven of the Ross and Black transfer operations so far and its impact on the club's budget.

How much does Milan spend in the transfer market?

After announcing seven signings since early July to date, Milan entered the final sprint stage of the first transfer window of the 2025/26 season and will be committed to perfecting the final puzzle at the beginning of the season, especially on the offensive end. The Ross and Blacks have so far purchased goalkeeper Traciano, defenders Estupinenan, Dwent and Atkame, as well as midfielders Ashari and Richie. In addition, Modric signed with the expiration of the contract in the form of a free transfer.

Meanwhile, the Red and Black Club has completed nine permanent transfers so far, along with loans from Filippo Traciano, Bondo and Zeroli, which will affect the budget, the termination of Vasquez's contracts, the expiration of Florenti and Jovic's contracts, and the end of the loan periods of Walker, Abraham, Felix and Sothil.

So, just a few days before the start of the league, what will the transfer operations so far have on Milan's fiscal 2024/25 budget? We tried to simulate its impact using data contained in the official announcements of the clubs involved in various transactions, as well as news about transfer fees and wages reported by major media, without considering some "extra" operations.

These data will be updated after the end of the summer transfer window (i.e. September 1).

How much does Milan spend in the transfer market - Signing operation

In the new signing, the most expensive operation was the introduction of Swiss midfielder Ashari, who joined from Bruges after a long summer negotiation. For the 2002-born player, the main impact on the cost is amortization, because Modric, for example, paid a higher salary, but was relieved by no transfer fees.

According to Calcio e Finanza's estimates, so far, the signing operations include amortized expenses and pre-tax wages for permanent transfer players should be converted into an additional cost of approximately €60.29 million. Now let's see how these additional costs should be offset by the sale operation.

How much has Milan spent in the transfer market - Sale operation

In the sale operation, Milan has so far completed the sale of Sportiello, Royal, Teo, Tiau and Poberga, with a total revenue of 78.3 million euros and a capital gain of approximately 62 million euros. Capital gains from other important sales such as Kalulu and Reindez are affected by the settled fiscal year budget ended June 30, 2025, so only amortization and wage savings are calculated in fiscal year 2025/26.

Among the players who left the team, in addition to Traciano and Bondo on loan to Cremonese, Zeroli on loan to Monza and Camalda on loan to Lecce, Vasquez's contract termination and Florenzi and Jovic's contract expiration were also considered. In addition, all loans last season were also counted, which cost a total of €25 million.

According to Calcio e Finanza's estimates, the sale operation is expected to have a positive impact of approximately €135.1 million on the fiscal year 2025/26 budget. This figure is derived from the addition of realized capital gains/losses, income from loans (when present), amortization savings (for players who are sold permanently), and pre-tax wage savings from players leaving teams compared to the 2024/25 season.

How much does Milan spend in the transfer market? Transfer Market Review

Therefore, between income and expenditure, the impact of transfer operations to date on the budget for fiscal year 2024/25 should be translated into a positive effect of approximately €74.8 million. The figure fits the coverage needs of the club's revenue lost after missing the Champions League after finishing eighth last season. , ,

However, considering only the income and expenditure balance of transfer fees (only permanent transfer operations), Milan's transfer window so far has shown a negative balance of approximately 25.7 million euros.