On Sunday, just hours before the highly anticipated Derby della Madonnina, Italian soccer giants AC Milan announced a new back-of-shirt sponsorship agreement with Bitpanda, one of Europe’s largest cryptocurrency trading platforms.
Meanwhile, AC Milan made key moves in the final days of the winter transfer window, adding depth to their roster ahead of the critical UEFA Champions League play-off game and the final third of the 2024/25 Serie A campaign.
AC Milan’s deal with Bitpanda will generate about €5 million ($5.1 million) a year, according to several reports in Italy. The Austrian company’s logo and name are now featured in the back of the AC Milan jersey, right beneath the player’s name and number.
“By becoming the Back-of-Shirt sponsor and a Principal Partner of AC Milan, the two brands underscore their shared commitment to innovation and excellence,” read the club’s official note on Sunday.
The deal with Bitpanda falls into AC Milan’s grand plan aimed at driving the club’s commercial revenue and healing what has been for many years a financially challenging situation.
In fact, the club is just reaping the fruits of a financially-rigorous approach implemented over the last few seasons by U.S. owners Elliott Management first and, starting in the summer of 2022, RedBird Capital Partners.
The U.S. ownership has primarily focused on cutting unnecessary player expenses while fostering revenue, with Deloitte Football Money League 2025 highlighting these efforts. In the detailed financial index on the world’s highest revenue-generating soccer clubs, which was published two weeks ago, AC Milan ranked 13th overall and first among the Italian sides, ahead of Inter Milan and Juventus.
Deloitte’s report also showed that the Rossoneri have enjoyed a remarkable 158% growth in total revenue over the last five years, jumping from €154 million ($158m) in 2019/20 to today’s €398 million ($408m). Last year, they were able to offset a €21 million ($21.5m) decline in broadcasting revenues by boosting income from commercial and matchday operations, two revenue streams that combined grew by 15.5%, or €34 million ($35m), with respect to the previous season.
After being in the red for 17 years, AC Milan posted a profit in its consolidated financial statement in 2023, replicating this achievement in 2024.
Financial strategy aside, AC Milan currently remains under strong pressure to achieve sporting results both in Serie A and on the European stage, as progressing in these competitions entails being awarded enormous chunks of prize money.
The club is currently struggling in the domestic league, where they sit in eighth position with one game in hand. On Sunday, when the new back-of-shirt sponsor first appeared on the AC Milan players, the Rossoneri tied against their arch rivals Inter Milan in a riveting Serie A derby at Stadio San Siro.
Portuguese head coach Sérgio Conceição and his men need to clinch a top-4 Serie A finish, which grants access to next year’s UEFA Champions League, by far Europe’s most lucrative competition with over €2.4 billion ($2.5b) being set aside every year for the participating teams.
In the current UEFA Champions League edition, AC Milan seemed poised to book a slot to the Round of 16, until underdogs Dinamo Zagreb upset them in the last matchday of the group stage. The Rossoneri are now forced to go through the tournament play-offs and battle Dutch club Feyenoord to earn a spot among Europe’s elite 16 sides, an achievement that alone generates another €12 million ($12.3m).
To add competitiveness to their roster, the Rossoneri were very active in the final days of the winter transfer window, which closed at 6pm EST on Monday, Feb. 3.
Chief among AC Milan’s new signings are talented attacking midfielder Joao Felix, who joined the club on loan from English Premier League side Chelsea, former Manchester City right-back Kyle Walker and prolific striker Santiago Giménez from Eredivisie’s Feyenoord.
The addition of such high-profile players speaks to the club’s proactive approach to the transfer market in recent years. As reported in a research by the European Club Association, AC Milan ranks 10th in net transfer expenditures among clubs in Europe’s top-5 leagues over the 2018-2025 period.
As a consequence to the high volume of incoming players joining the Rossoneri in the winter transfer window, the club had to drop someone from the current roster, with key names like Alvaro Morata and Ismaël Bennacer unexpectedly bidding farewell to the club.
“We completed all the transfer moves we wanted, we strengthened our roster by letting go of five players and acquiring another five. We’re satisfied. This is the team that will change our current situation,” said AC Milan’s senior advisor Zlatan Ibrahimovic during a press conference on Tuesday.
After a loss and a draw in the last two matches, AC Milan is looking to get back to winning ways tonight in the Coppa Italia quarter final clash against Roma.
