Title: UEFA Champions League Helps Milan Return to Profitability

AC Milan, competing in Italy's Serie A, announced on Monday that it returned to profitability for the first time in 17 years in the 2022-2023 season, thanks to reaching the semi-finals of the UEFA Champions League. The club, now owned by the American investment group RedBird Capital, reported record annual revenues of €404.5 million ($429 million), a 36% increase driven by higher commercial sales, sponsorship revenue, and increased income from broadcasting rights. Scaroni added, "Combining sporting performance, global competitiveness, and financial sustainability in football has become possible." This achievement allowed the club to realize a net profit of €6.1 million for the year ending in June, marking its return to profitability for the first time since 2006, which was praised by Chairman Paolo Scaroni as a "significant step." RedBird Capital, which acquired AC Milan in 2022 in a €1.2 billion deal, invested an additional €40 million to assist in developing plans for a new stadium.