No need to apologize, thank you for posting the info.
tl:dr anyone? we're good or nah??? answers only from pseudo-intelligent people please.
We are improving financially, but I don’t really see a clear path to breaking even without the stadium, as I don’t think there is a major opportunity to decrease the wage bill further. The stadium will help, but that’s 4-5 years away.
Relying on deep CL runs is a somewhat risky strategy, but that, along with increased commercial revenue, seems to be the only way forward now.
To me, the most interesting thing to monitor moving forward will be how Gazidis renews the shirt and main sponsor deals. We are at around 25m combined on these two, which is representative of banger era Milan but not of current Milan.
Juve isn’t the right benchmark as Jeep is just funneling money between the same ownership group. But getting 60-70m combined from shirt and main sponsor doesn’t seem out of the question.
With this in place, and say a run to the r16 in next year’s CL, I could see us getting close to breakeven (I see wages being more or less the same with renewals being offset by dumping guys like Conti, Samu, Caldara off the books).
TLDR - our commercial revenue is still poor. Stadium will take time. We need better shirt and sponsor deals in addition to better CL runs to get back to breakeven