Four years of Rossoneri transfer activity: the numbers of the RedBird era
Since RedBird Capital Partners, led by Gerry Cardinale, took control of AC Milan in the summer of 2022, the Rossoneri club has invested a combined total of €503 million across transfer windows — both summer and winter — over four seasons. A staggering figure that calls for a serious and constructive reflection on how these investments are being planned and directed.
Season-by-season breakdown
A detailed look at the data reveals a picture of steadily growing investment:
- 2022-23 season: approximately €62 million spent in the transfer market
- 2023-24 season: approximately €132 million
- 2024-25 season: approximately €139 million
- 2025-26 season: €170 million — the highest figure of the RedBird era
The average annual spending therefore stands at around €125 million per season — a figure that places Milan among the highest-spending clubs in Italy and among the most active mid-tier spenders across Europe.
Transfer income: a balance to be struck
A full and honest reading of the data must also account for the income generated from player sales: over the four-year period in question, Milan brought in approximately €315 million from outgoing transfers.
- 2022-23: approximately €22 million
- 2023-24: approximately €74 million
- 2024-25: approximately €43 million
- 2025-26: approximately €176 million — a record that reflects the financial pressures stemming from the absence of Champions League football
Missing out on the UEFA Champions League in certain seasons has had a significant impact: estimates suggest a loss of between €60 and €70 million for each season without Europe’s premier club competition. A factor that has inevitably shaped transfer strategy and the need for player sales to rebalance the books.
The quality of spending: the real challenge going forward
The central issue is not how much is spent, but how it is spent. With over €500 million invested, one would expect a squad capable of consistently challenging at the top of Serie A and making an impact in Europe. Sporting results, however, tell a story of significant gaps to the summit: 20 points behind the league leaders three years ago, 19 for two consecutive seasons, down to the current 12 — a sign that the trajectory, however gradual, is improving.
The issue most often highlighted by those in the know concerns squad composition: numerical surplus in some areas of the pitch and structural gaps in others. The midfield and defence have not always offered optimal cover, while in attack — despite five forwards being available — there remains a clear need for a prolific centre-forward capable of scoring consistently.
Trophies won: an Italian Super Cup that still counts
The RedBird era’s trophy cabinet contains, to date, one Italian Super Cup. A trophy that, while not the most coveted silverware, is still an official title and a team achievement worth celebrating. The true goal, however, is to build the foundations to fight for the Scudetto once again and to establish Milan as a consistent force in the Champions League — these are the ambitions that the Rossoneri faithful demand.
Looking ahead: next summer is the right moment
The numbers are there — clear and undeniable. But numbers also serve as a learning tool, a course correction, an opportunity to invest more precisely. The upcoming summer transfer window represents a historic opportunity for Milan: with an average annual spend of €125 million and a squad with key positions still to be filled, the resources for a genuine step forward are there.
The hope is that the ownership, the board — Cardinale, the management and the technical staff — work in close partnership with Allegri to build a truly complete squad. A Milan capable of scoring goals, winning tight matches and competing until the very end for the biggest prizes. The Rossoneri faithful deserve to dream big, and the funds to make it happen exist. All that is needed now is the right vision to use them to the fullest.
Source: data compiled from official transfer window records from 2022 to 2026.
