Follow usInter’s financial situation is dire, and the team from Milan has been grappling with issues for quite some time. According to the Italian daily Il Giornale, the situation is worsening rather than improving.
Recently, Inter managed to reduce its operating expenses by 11.8% to €425.5 million, but at the same time, revenues decreased by 3.2% to €425.5 million. When other expenses are factored in, the club concluded the 2022/23 season with a loss of €85 million, and forecasts suggest that the unfavorable situation will persist in the coming years. Currently, Inter’s obligations amount to €807 million.
The situation would be even more challenging if it weren’t for the summer transfers of Andre Onana and Marcelo Brozovic. The former moved to Manchester United for €50.2 million, while Brozovic headed to Al Nassr for €17.5 million.
💣🚨| Inter Milan are on the brink of bankruptcy; only the sale of Brozovic and Onana allowed business continuity in 2023-24. [@ilgiornale] pic.twitter.com/529oq1KMJK
— Football Talk (@FootballTalkHQ) December 28, 2023
Il Giornale emphasizes that both moves have been “decisive” for the continued smooth functioning of the club.
The club will have to rely on other forms of financial assistance in the near and distant future. In May of next year, it has to pay several hundred million to Oaktree Capital Management, from which it previously drew a loan of €275 million—secured by shares in the club. Additionally, in January 2022, five-year bonds were issued at an interest rate of 6.75%.
The Suning group, the current owner of the club, is facing serious problems, with Suning.com (electronics trading) ending 2022 with a massive loss.
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