BETWEEN SETBACKS AND SIGNALS OF GROWTH: MILAN’S SEARCH FOR BALANCE, IDENTITY AND AMBITION
By Giuseppe Forlano
The journey of Milan through this central phase of the season has unfolded like a complex musical score, marked by sudden pauses, emotional accelerations and sharp contrasts, where results and sensations have often travelled on parallel tracks. It has been a non-linear path, yet one that reveals much about the nature of a team still under construction, but already capable of expressing a clear and recognisable identity.
This stretch began with a narrow 1-0 defeat in the Coppa Italia against Lazio. It was a cautious, tactical contest, controlled for long periods but ultimately decided by a single episode. Milan showed organisation and balance, yet struggled to turn possession into genuine attacking threat. The elimination left a sense of frustration rather than resignation: the feeling of an opportunity lost not through inferiority, but through a lack of sharpness at decisive moments. A defeat that resonated, forcing the team to reflect on its ability to be truly ruthless when margins are thin.
The response came swiftly in the league, during one of the most emblematic evenings of the season. Against Torino, Milan experienced a match of two distinct halves, shaped by early adversity and a powerful reaction of character. Falling two goals behind in the opening stages placed the Rossoneri on a steep uphill path, yet the team remained mentally attached to the contest. The turning point arrived in the 24th minute of the first half, when Adrien Rabiot unleashed a thunderous long-range strike to make it 2-1, a goal that reshaped the emotional balance of the match heading into half-time. From that moment on, the momentum shifted. After the break, Milan raised the tempo and intensity, transforming difficulty into momentum and completing a remarkable comeback to secure a 3-2 victory. At the heart of it all stood Christian Pulisic, a true pillar of this side: decisive, composed under pressure, and a technical and mental leader.
That emotional high, however, was followed by a frustrating setback in the 2-2 draw against Sassuolo. A result that generated more disappointment than regret, largely due to how the match unfolded. Milan appeared in control and even found what would have been the 3-1 goal, only for it to be controversially disallowed. A refereeing performance that undeniably affected the final outcome and fuelled a sense of injustice. Beyond the incidents, the match reinforced the impression of a team capable of creating chances but still prone to leaving games unresolved.
The calendar then took Milan far from Italy, to Riyadh, for the Supercoppa Italiana semi-final against Napoli. The 2-0 defeat told the story of a match in which the opposition proved sharper, quicker in both thought and execution. It exposed structural limitations that emerge when the level of intensity rises significantly. Not a failure, but a clear snapshot of the gap that still needs to be bridged to compete consistently on the biggest stages.
The end of 2025, however, arrived with a note of stability and reassurance. The convincing 3-0 league victory over Verona restored calm and confidence, allowing Milan to close the year in second place with 35 points, just one behind league leaders Inter on 36. A position that reflects the steady work of Massimiliano Allegri, who has brought order, pragmatism and continuity to a side that in recent years often lived through emotional extremes. This is not a spectacular Milan in the absolute sense, but it is a coherent and increasingly resilient one.
Alongside the pitch, the winter transfer window has begun to shape important narratives. The arrival of Niclas Füllkrug from West Ham, on loan with an option to buy set at five million euros, represents a targeted move designed to add physical presence, experience and a different attacking profile. It is not a gamble, but a functional decision aligned with the idea of building a more complete squad.
Attacking dynamics remain fluid nonetheless. Following his first brace in a Milan shirt, Nkunku has attracted interest from Fenerbahçe, opening the door to a potential domino effect in the forward line. Within this context, the profile of Jean-Philippe Mateta, currently at Crystal Palace, has emerged as a possible solution, especially as the English club moves closer to finalising the signing of Brennan Johnson.
On an emotional level, there has also been room for nostalgia. The name of Thiago Silva reignited deep memories among supporters after his contract termination with Fluminense, briefly fuelling hopes of a romantic return. That dream, however, remained just that. The defender chose Porto, closing the chapter on a comeback that would have carried more symbolic than strategic value.
Milan therefore continues its journey, suspended between realism and ambition. Not yet complete, but increasingly aware. A path marked by controlled setbacks and sudden recoveries, telling the story of a team in evolution, searching not only for victories, but for a lasting and profound stability.
A MILAN THAT INSPIRES AND TERRIFIES IN EQUAL MEASURE
By Giuseppe Forlano
Football often draws a thin, invisible line between teams that simply play and teams that live every match as a chapter in a collective destiny. Over the past few weeks, Milan have moved exactly along that line, oscillating between performances worthy of a great side and missteps that are harder to justify. The last vivid image from the previous article was the tense, hard-fought 0-0 against Juventus, a match of resistance, of raised walls, a kind of prelude to the emotional tension that would carry the Rossoneri into the next cycle of games. And that was where everything began.
The win over Fiorentina, 2-1, felt like Milan stepping back onto the stage with elegance and ferocity, ready for another night under the brightest lights. It wasn’t just a victory; it was a statement. Fiorentina tried to impose their rhythm, but Milan responded with maturity and personality. It was one of those matches where supporters instantly understood whether their team was living in the moment or merely standing on the pitch. That day Milan were inside the game, as if every ball carried the weight of fate. The team looked solid, finally capable of managing difficult moments and striking when it mattered most. The win didn’t just give them three points, it left an atmosphere, a feeling.
Then came the 2-2 draw against Pisa, the kind of match that weighs heavily with supporters. It is against smaller teams that the hunger of a big club is measured, and that hunger simply wasn’t there. Too much complacency, too slow in overturning an inertia that should never have been lost. It is a paradox: against strong, structured sides Milan play like giants; against teams they should overwhelm with quality and intensity, they sometimes forget who they are. It’s a recurring mystery, a limit to be broken, and it makes life difficult for any coach trying to maintain emotional balance. Milan didn’t lack talent that day, they lacked ruthlessness. And in football, often, that alone makes the difference.
The response arrived in Bergamo, an intense 1-1 against Atalanta, a duel of nerves and legs. Facing the Dea means facing an opponent that tests not just technique but courage as well. In an atmosphere that boils like Bergamo, Milan showed they were alive, alert, capable of resisting and emerging in decisive moments. It wasn’t a win, but it was the performance of a team aware of its own value. In today’s football, a draw like this can feel almost like a victory, because it reveals who you are when the silence of the world breaks against the pressure of a difficult challenge.
Then came Roma, and that 1-0 victory tells the story of a team that knows how to suffer and still win. Milan played with bravery, without unnecessary embellishments, like a team fully aware that every ball carries the weight of a season. Roma tried to break through, but Milan responded with organisation, maturity, and distributed leadership. Winning these games is what allows a group to define itself as great. It wasn’t the goal alone that made the difference, it was the control, the calmness, the ability to hold the threads of the match without letting them slip.
And then, suddenly, the paradox returned: Parma. Another 2-2 result that left a bitter taste with the Rossoneri supporters. Parma are courageous, ambitious, with clear ideas, but this should still be a match a Milan with serious ambitions can govern without turmoil. Instead, the team looked lost between spaces, too open at the back, too soft up front. It is the picture of the limits still to be addressed: mental continuity, the approach, the ability to impose rhythm even when the match seems harmless. Because the most dangerous matches are often the ones that look simple.
All of this, the swings, the sparks, the uncertainties, leads into the next chapter: Inter against Milan, 0-1. And here we enter territory beyond tactics, beyond football, beyond anything language alone can explain. This was not just a derby victory, it was a night shaped by the greatness of Mike Maignan. First, an astonishing save on Lautaro, a feline reflex that froze the stadium. Then an unreal stop on Thuram, one of those interventions that seem to bend time. And finally, the masterpiece: the penalty save on Çalhanoğlu, the perfect symbol of a night in which Maignan looked larger than the goal itself. Winning a derby is always an emotional earthquake, but winning like this amplifies everything. In the days leading up to the match, Milan feels like a tight rope; when Milan win, the city erupts. The explosion of noise after the final whistle still seems to echo between the tall buildings.
After the derby, the victory against Lazio, 1-0, felt like a natural continuation of that emotional inertia. And once again Maignan was decisive, this time with a miracle save on Gila’s point-blank header, another intervention that altered the direction of the match. The team then played with calm authority, controlling and protecting a victory far heavier than the numbers might suggest.
The Milan of recent weeks is an open novel, full of fiery chapters and dissonant pages. The victories against Fiorentina, Roma, Lazio, and above all Inter reveal a team capable of greatness; the draws against Pisa and Parma show that there is still work to be done. But if there is one truth that emerges from these matches, it is this: when Milan needs to be Milan, they become a team that pulses, suffers, leads, and wins. And above all, they ignite the entire city.
And within all this lies a crucial detail: Maignan’s contract expires in June 2026. Should he fail to renew, it would be an enormous loss, even for Massimiliano Allegri, whose tactical balance has often relied on the presence of a goalkeeper this dominant.
This is the story of a cycle that has made fans live through conflicting emotions, yet always intense. And that is what makes football extraordinary. And Milan, today, is a team that forces you to feel it, always, without ever letting you step aside.
THE ROSSONERI REVIVAL: MILAN’S COMEBACK ON AND OFF THE PITCH
By Giuseppe Forlano
There’s a new energy around AC Milan. You can feel it in the air, in the stadium, in the way players carry themselves. After a summer filled with doubts and whispers, the answers have finally arrived. Milan wins, fights when it must, and builds a future that now feels solid, ambitious, and real.
Since mid-September, the Rossoneri have found a rhythm that feels almost inevitable. It all began at San Siro against Bologna, on a night that smelled of old-school football. Luka Modrić, forty years old and still writing poetry with his feet, decided the match. He ran, he dictated, he shaped the tempo as if time had no power over him. His winning goal was more than a moment of brilliance. It was a message from a man who refuses to fade.
Then came Udine, and a three-nil victory that spoke of control rather than emotion. Milan owned the pitch from the first minute to the last. The team looked mature, well-drilled, and completely in sync with its coach. It was the kind of performance that tells you this group has grown together and learned how to win.
The following weekend brought Napoli to San Siro, and with it, something even more special. After weeks of silence and protest, the Curva Sud finally returned to song. The chants echoed again, the flags waved, and the old fire filled the stands. Milan’s two-to-one win felt like a homecoming. The team and its people had found each other again, united by the sound of their own heartbeat.
Turin was next. The Juventus game ended goalless, but it was anything but dull. Milan played with courage and order, pressing when it mattered, holding their ground when it didn’t. Christian Pulisic had the chance to break the balance from the penalty spot. The stadium held its breath and then watched the ball fly over the bar. For a second, silence took over. But rather than collapse, Milan tightened up and finished the match stronger. A missed penalty can crush a team, yet this one stood tall. That, more than the scoreline, said everything about where Milan is now.
Four matches, three victories and one draw, but above all a feeling of continuity. Every week adds another layer to a project that seems finally to have found its soul. And behind the work on the field, a different kind of success has emerged at Casa Milan.
For the first time in its long history, the club has posted three consecutive profitable seasons. The latest result, a net profit of around three million euros, may not sound huge, but it means everything. It proves that Milan has learned to grow sustainably and that passion and discipline can actually coexist.
Revenues reached an all-time record of 495 million euros, roughly ten percent higher than the previous year. The boost came from the higher matchday income, and smart player trading, including the sales of Tijjani Reijnders and Pierre Kalulu. But what truly stands out is the philosophy behind those numbers. RedBird, the American ownership group, keeps reinvesting every euro directly into the club. Nothing gets lost. Every gain becomes another brick in the foundation.
Over the past two seasons, more than 250 million euros have gone into strengthening the squad and building long-term structures. Among those projects is Milan Futuro, the club’s second team, created to develop young players. Even after relegation to Serie D, the project continues. Milan believes that experience and growth come through continuity, not shortcuts.
the new San Siro
And now the biggest dream of all begins to take shape. The City of Milan has approved the joint acquisition of San Siro and its surrounding area by Milan and Inter. It is a milestone that changes everything. Owning their home gives the clubs control over their destiny and allows them to design a future worthy of their history.
At the same time, the Rossoneri have not abandoned their plans in San Donato, where forty million euros have already been invested in redevelopment in collaboration with local authorities. Two cities, one vision, a single idea that football can still build communities and not just trophies.
While Modrić keeps enchanting, Pulisic keeps learning and the fans keep singing, Milan keeps building. The club is shaping not only a team but an entire ecosystem. It’s a culture of resilience and ambition, of knowing when to sprint and when to breathe.
Serie A remains unforgiving, and the path will be long, but this Milan feels ready. There is balance now, there is belief, and above all there is identity. Emotion and logic finally walk hand in hand again.
When a club with Milan’s history finds that harmony, something ancient stirs beneath the surface. The Rossoneri wake up, and when they do, the whole of Italian football feels it.
25/26 Transfer Review: AC Milan
AC Milan has undergone a radical transformation this summer, a true revolution that reshaped almost three quarters of the squad. This was not a matter of small tweaks or marginal adjustments, but a deep reconstruction, the sign of a club that no longer wants to remain trapped in the disappointments of recent years. The management, now led by CEO Giorgio Furlani, new sporting director Igli Tare, and Gerry Cardinale (president and owner through RedBird Capital Partners) chose to make a bold statement: sell in order to rebuild, invest in order to relaunch.
Cardinale, an American entrepreneur of Italian descent, has built a long career in finance, first at Goldman Sachs and then through the founding of RedBird Capital. His takeover of Milan in 2022 represented not only a change of ownership, but above all a change of mentality. A man of sport in every sense, with investments in Major League Baseball (part ownership of the New York Yankees) and in the NFL (through On Location), Cardinale brought to Milan a modern, American-style vision: a privately owned stadium, financial sustainability, brand development and global growth. He is not a president who lives on nostalgia, but an investor who looks to the future and expects the club to become a fully-fledged international sports enterprise.
Against this backdrop came one of the most eventful transfer campaigns in recent memory. On the incoming side, the standout signings were Ardon Jashari, the Swiss midfielder bought from Club Brugge for more than 30 million euros, and Samuele Ricci, acquired from Torino as a medium to long-term investment. On the flanks, the big move was Pervis Estupiñán, taken from Brighton to replace Theo Hernández, while in defense Milan secured Koni De Winter from Genoa, considered one of Serie A’s most promising young center-backs. Alongside them came to the surprise of many, Luka Modrić: the former Ballon d’Or winner, joining on a free transfer. The move for the Croatian legend represents not only technical quality but also leadership and identity for a team in transition. From the Swiss league arrived Zachary Athekame of Young Boys, a young forward expected to grow into his role in a Milan shirt, and full-back Terracciano was added at zero cost. In total, seven signings for more than 100 million euros, plus bonuses.
If the arrivals tell the story of ambition, the departures reflect the need to rebuild. Key figures left, such as Tijjani Reijnders, sold to Manchester City for around 60 million euros, Theo Hernández, who moved to Al Hilal, and Malick Thiaw, transferred to Newcastle for 35 million euros. Altogether, fifteen players left Milanello, generating more than 150 million euros in revenue, plus bonuses and fixed buy-out clauses. These were not just technical choices, but part of a precise strategy: to build a younger, more sustainable team without sacrificing international credibility.
The summer of 2025 cannot therefore be read only in terms of net spend. It was an act of both courage and necessity. The failure to qualify for the Champions League had left a hole in the accounts, and major sales helped balance the books while still allowing for ambitious reinvestment. At the same time, the leadership wanted to send a message: this club will not live off regrets but intends to relaunch itself immediately.
Here is where history plays its part. Milan is not just any club; it is the team that has won seven Champions League titles, more than any other in Italy. This tradition cannot be ignored, but today it must be transformed into fuel for the future. If in the 1980s and 1990s Silvio Berlusconi’s Milan built a dynasty based on world-class players and innovative vision, the Milan of Cardinale and Furlani must now attempt a rebirth with different tools: financial sustainability, modern infrastructure, and a transfer strategy that balances present needs with long-term growth.
The most sensitive point today, however, is the relationship with the organized fan base. The Curva Sud has entered into open conflict with the club and with the new access rules: after the “Doppia Curva” investigation and the decisions taken by the Milanese clubs, many ultras were denied season ticket renewals; traditional banners have been banned in the Curva, and security checks have become much stricter, with severe limits on name changes and ticket transfers. The reaction has been fierce: protests, coordinated silences at San Siro, statements denouncing an “authoritarian regime,” and, in some cases, the choice not to enter the stadium at all. It is a short circuit that is shaping the atmosphere of the season’s opening matches.
The challenge awaiting Massimiliano Allegri, called to guide this renewed team, is anything but simple. He will need to blend experienced players like Modrić with youngsters waiting for confirmation, such as Jashari, Ricci and De Winter. He will need to manage the emotional weight of losing major stars without allowing their absence to become an excuse. And he will have to turn a squad full of new faces into a cohesive group, competitive in Serie A and in the Europa League.
The final judgment, as always, will come from the pitch. On paper, Milan may appear weaker in some areas and stronger in others. But beyond the immediate technical balance, what truly matters is the direction taken. This is not a team built to float, but one designed to grow. It is a Milan that takes risks, that dares, that accepts breaking with the recent past in order to open a new cycle.
The inevitable question for many fans is this: will it be enough to compete again at the highest level? Perhaps not right away. Yet the feeling is that the club has finally chosen a clear path. No longer a transfer market built on patchwork solutions, but a genuine project, supported by ambitious ownership and a management team ready to prove they can handle the pressure.
History teaches us that Milan’s cycles have never been born from conservatism, but from radical choices. It happened with Sacchi, with Capello, with Ancelotti. Today it may happen again, with a squad carrying the weight of its glorious tradition while eager to shed its recent uncertainties. The summer of 2025 will be remembered as the moment Milan turned the page. Whether it marks the beginning of a new era, only the pitch will tell. But one thing is beyond doubt: Milan has decided not to live on memories any longer, but to build a future worthy of its name.