Inter profit and AC Milan loss sharpen focus on shared stadium

Inter reported a €22.7m profit for 2025/26 despite revenue falling from €567m to €518m, while AC Milan posted an approximately €24m loss as revenue declined to €464.6m following a season without European competition.Inter attributed the drop in revenue largely to the absence of the exceptional income generated by its 2025 Club World Cup participation and run to the Champions League final, although it said commercial revenue rose 7% and average matchday income per event increased.The club reduced operating costs by approximately €20m, while refinancing completed in the previous financial year cut finance costs by around €19m and helped shareholders’ equity return to a positive €10.4m.AC Milan said its revenue was 6% below the previous year, but sponsorship income exceeded €100m for the first time and average attendance remained above 72,000.Its net financial debt rose from approximately €92m to €145.3m, which the club attributed primarily to the use of credit facilities for investment and longer-term development.The two clubs completed their joint acquisition of the San Siro stadium and surrounding land from the Municipality of Milan in November 2025, clearing a major step towards building a new shared ground and regenerating the district.They have appointed Foster + Partners and MANICA to design the stadium and wider masterplan, with AC Milan describing the development as its most significant long-term project and a potential source of future economic growth.For Inter, the latest results demonstrate that profitability can be maintained even after an exceptional season’s competition income falls away, while AC Milan’s figures underline the immediate effect that missing European football can have despite strong sponsorship and attendance.The stadium is intended to strengthen the clubs’ long-term commercial prospects, but neither set of annual results establishes what it will ultimately cost to build or how much additional income it will generate.