The golden era of Italian football is facing a harsh reality. According to a recent financial survey by Calcio Finanza, 65% of Serie A clubs concluded the 2024/2025 season in the red, with total net losses reaching €349 million. Since the 2016/2017 season, the cumulative deficit for Italy’s top-flight teams has ballooned to a staggering €3.9 billion.
A Stadium Crisis: “The Worst Infrastructure in Europe”
The primary obstacle to revenue growth remains Italy’s outdated infrastructure. UEFA President Aleksander Ceferin recently labeled Italian stadiums “a shame,” noting that they lag behind even smaller nations like Albania.
- Matchday Revenue: Serie A clubs earn 40% less in matchday revenue compared to the Premier League.
- Euro 2032 Concerns: Out of ten proposed venues for the upcoming Euro 2032 (co-hosted with Turkey), only Juventus’ Allianz Stadium currently meets international standards.
The Financial Scoreboard
While giants like Juventus, Roma, and Napoli reported losses, only seven teams managed to stay profitable this season, led by Inter Milan, AC Milan, and Atalanta. These three clubs have also been Italy’s most successful representatives in European competitions recently, highlighting the direct link between financial health and on-pitch performance.
Moises Assayag, a football finance specialist, warns that the league has been too slow to modernize: “The financial imbalance has become recurrent. A total restructuring based on sustainability and international repositioning is now urgent.”