Christian Pulisic and Santiago Gimenez have returned to Milanello this summer only to find themselves in a vastly different environment. Massimiliano Allegri and new sporting director Igli Tare have overseen a complete overhaul, leaving just nine players from the 2024-25 squad. The revolution has been swift, bold, and risky — and Milan fans are already divided on whether it will propel the Rossoneri back to the top or set them back even further.
The club’s new direction followed a disappointing campaign in which Milan, despite lifting the Supercoppa Italiana, finished outside the European qualification spots under Paulo Fonseca and Sergio Conceicao. The lack of progress forced Gerry Cardinale and RedBird Capital to act decisively in May, appointing Allegri and Tare to lead a structural reset.
While Pulisic and Gimenez headline the new project, only a handful of players managed to keep their place in the first-team plans. The survivors are Mike Maignan, Lorenzo Torriani, Fikayo Tomori, Ruben Loftus-Cheek, Matteo Gabbia, Strahinja Pavlovic, Christian Pulisic, Rafael Leao, and Youssouf Fofana.
That means 23 players left Milan in the summer — through sales, loans, or expiring contracts — reducing the squad to just 22 registered names. Of those, only 19 are outfield players, leaving Allegri with one of the leanest squads in Serie A.
As MilanNews points out, “With so many exits and only 10 new arrivals, the squad looks dangerously thin, especially with injuries already hitting key areas.”
Big departures and major sales
The biggest shock of the summer transfer window was the exit of Theo Hernandez, who left for a fee close to $29 million, while Malick Thiaw and Tijjani Reijnders were also sold. In total, Milan collected $105 million from permanent sales, while loan deals added another $9 million. The overall income stood at around $114 million, with capital gains of approximately $80 million, thanks especially Reijnders’ transfer.
These departures marked the end of an era, as key figures who once embodied the club’s resurgence under Stefano Pioli were moved on to make way for Allegri’s reshaping.
Cost of reinvention
Milan were the highest spender in Serie A during the summer window, investing heavily in every department. Ten new signings arrived, including a mix of veterans and emerging stars.
- Christopher Nkunku – $40 million
- Ardon Jashari – $37 million
- Adrien Rabiot – $10.5 million
- Luca Ricci – $22 million
- Luka Modric – free, but his signing added experience
- David Odogu – $17 million
- Pietro Terracciano – backup goalkeeper
- Pervis Estupinan – $16 million
- Zachary Athekame – $10 million
- Koni De Winter – $23 million
In total, Milan spent $175.5 million, bringing the net spend to nearly $60 million after accounting for sales. Calcio e Finanza estimated the immediate impact on the club’s balance sheet at just over $115 million, a figure that underlines how committed RedBird are to rebuilding quickly.
