Inter’s owners Suning have managed to double club revenues in the three years since they bought the club back in 2016 according to a report in today’s paper edition of Gazzetta dello Sport.
Inter’s shareholders approved the financial statements for the 2018/19 season which saw record revenues of €417 million confirmed.
Part of Inter’s increase in revenue can be put down to Suning’s activity in their native continent of Asia, where they brought in €96 million through sponsorship deals. €26 million came directly from themselves whilst the other €70 million came from other Asian businesses.
Inter’s losses did rise to just below €50 million in the most recent financial statements but that includes the sackings of Luciano Spalletti and his staff, which equates to about half of that.
Salaries and amortisation fees have also risen as part of Suning’s continued efforts to improve the team on the pitch. In 2018/19 personnel costs rose from €156 million to €192.6 million.
Inter earned €152.7 million in commercial revenues, almost three times as much as city rivals AC Milan. They have also bought the retail and licensing rights to their merchandise from Nike, meaning Inter will be in complete control and it is thought that this move will help them further close the financial gap on Juventus.
