Italian journalist Marco Bellinazzo has explained the steps Inter have taken to secure their financial future after the coronavirus pandemic, according to a report in the Italian media.
Speaking during an interview with Sky Sport, the Il Sole 24 Ore journalist who is a football finance expert explained that the club is now in a secure state following an extremely rough time for all football clubs.
“It was a complicated situation that concerns football clubs, not only Italians. Inter have achieved this negative record, the pandemic effect has made itself felt.”
The journalist explained that the sales of Achraf Hakimi and Romelu Lukaku will not be felt until the next balance sheet, as well as the cuts to the wage budget with players like Radja Nainggolan and Joao Mario leaving the club.
“The sales of Hakimi and Lukaku were made after June 30th, so the effects will be seen in the next balance sheet.
“In addition to these there is another €30 million of ‘contract cleaning’ that Inter has done by releasing Conte and the staff, Nainggolan and Joao Mario.
“The positive thing is that Inter have been secured financially, €75 million of the €250 of the Oaktree loan has arrived and the bond loan of previous years will soon be refinanced by €400 million.”
As explained the steps that need to be taken to clear the rest of the debt includes reaching the knockout stages of the Champions League, and moving into a new stadium along with AC Milan.
“Inzaghi must bring back to the Champions League knock out phase that has been missing for ten years, and that the contract for the new stadium is reached together with Milan because it would mean enhancing the Inter-Milan asset.
“Both need to become economically autonomous, both lived through the fault of the pandemic that took away their revenues but they are both on track to start a virtuous process because the balance of European football is changing.”
These positive moves mean that the club does not intend to sell key players again next summer.
“The €250 million loss does not include the recent past and certain operations on the market such as sales and operations that have led to a reduction of around 15% in salaries.
“Thanks to the new sponsors who bring about €30 million a year, they will bring important additional resources, which means that Inter will be able to present themselves in a calm manner to the next market and that if some transfers are made, they will be made by choice and not by necessity.
“At this moment I understand that the management does not want to proceed with other sales and on the contrary protect precious pieces like Lautaro Martinez.”
