Financial breakdown of AC Milan's 2025 January mercato [Bonus Article]

The 2025 January mercato came to an end last night and Milan completed a total of five signings for the first team, which is an unprecedented mid-season haul for the Rossoneri, while also offloading six players. Our financial breakdown takes a look at the figures of each deal, what it means for the club and the conclusions that can be drawn from the business made.

I had written an intro for this article on Saturday last week, which highlighted just how chaotic the day before had been with rumours left, right and centre. However, after what ended up being Milan’s liveliest deadline day in many years, I had no choice but to scrap the text. Ah well, at least we got to see a lot of movement by the Rossoneri, right?

For a long time, it looked like we were ‘just’ going to get Kyle Walker and Santiago Gimenez on the incoming front, but then Giorgio Furlani and co decided to add Joao Felix, Warren Bondo and Riccardo Sottil to the mix. Furthermore, the likes of Ismael Bennacer and Noah Okafor packed their bags on deadline day, with Milan completing the squad revolution that had been hinted at in the media.

The fact that we are even doing a financial breakdown further attests to this, as we usually don’t do them for the January window (simply because of the lack of business). I was very happy about getting to do one up until the rumours started coming in yesterday, which inevitably made the task a lot more difficult. But we got there in the end, thank god for Google Sheets!

For new subscribers who haven’t read our financial breakdown pieces before, it’s pretty straightforward. We take a look at all of the figures from the mercato and how these impact Milan’s accounts. For example, in this case, we will discuss how the outgoing business helped make the signings possible while also taking a look at the impact for next season (and the seasons after that).

It’s especially relevant this time out as several players moved on loan, or with clauses that could change the financial nature of the deals. Without further ado, let’s get into the breakdown!