Juventus, Inter Milan and AC Milan are the three Italian soccer clubs featuring in Deloitte Football Money League 2022, a detailed financial review of the highest revenue-generating soccer clubs in the world.
This year’s financial analysis refers to the 2020/21 season, which is the first one to have entirely been affected by the Covid-19 pandemic.
In a ranking that is predominantly filled with English Premier League clubs (half of the first 20 teams hail from England), Juventus are the only Italian side that managed to secure a top-10 finish.
The Bianconeri, who are ranked ninth with €433.5 million ($476m) in revenue, have climbed up one position from 2019/20, when they sat in 10th place with revenue just above €400m.
It will be interesting to see how things play out for Juventus in the future considering the club’s ongoing financial adversities and underachieving performances on the field (they failed to go past the UEFA Champions League Round of 16 and are sitting in fourth place in the Serie A table).
What’s more, the club has recently made drastic choices about its roster: In the January transfer window, it disbursed a large amount of cash to sign Dusan Vlahovic from Fiorentina, while it did not grant Paulo Dybala the kind of contract extension that he had been expecting. After seven years, Dybala is set to leave Turin for free in the summer, with domestic and international clubs ready to make an offer for the talented Argentine striker.
Inter Milan have occupied the 14th position for two straight seasons in Deloitte’s review, experiencing a significant €40 million revenue boost last season with respect to the 2019/20 financial year.
The 2020/21 campaign, however, has been financially challenging for Inter, who posted the largest loss in Serie A history and were pushed to seek help from foreign investment.
The reigning Serie A champions, who generated €330.9 million ($364m) in revenue in 2020/21, also have the second-highest wage bill in Italy.
For their roster, Inter are currently spending €130 million ($143m) according to Gazzetta dello Sport estimates. This amount is down from the €149m of 2020/21, partly due to the departure of players that were collecting lucrative contracts, such as Romelu Lukaku and Christian Eriksen.
After not making the top-20 cut in 2019/20, AC Milan are now ranked 19th in Deloitte Football Money League 2022, piling up €216.3 million ($238m) in revenue.
In recent years, the club has taken a very rigorous approach to spending by cutting costs and refusing to grant contract extensions that are not in line with the club’s values and budget capabilities.
While this policy has caused Milan to see some of their best players leave as free agents (it is the case of Gianluigi Donnarumma, Hakan Çalhanoğlu and now, Franck Kessie), it is building credibility and a strong sense of belonging at the club.
And, results are proving them right: Despite being just the 4th largest spender in Italy, Milan are currently leading Serie A, chasing their 19th scudetto in what is one of Europe’s hottest title races.
Italian soccer clubs are still far from other major European clubs in terms of revenue generation.
Germany’s Bayern Munich, who are in third position in Deloitte’s review, generated €611.4 million in revenue in 2020/21, while Spain’s Real Madrid are ranked second with €640m.
The top step of the podium is occupied by England’s Manchester City with a stunning €644.9m ($709m).
