A significant imbalance on the club’s balance sheet could prompt Inter President Steven Zhang to sell the club, despite his reluctance to do so, Italian media suggest.
As reported in today’s newspaper edition of La Gazzetta dello Sport, the Nerazzurri are staring at an imbalance of €150 million, despite considerable work over the past year to reduce debts and make the club a more sustainable enterprise.
Inter have brought their deficit down from €246m to €140m in the latest accounts published, and this is in large part down to the income generated by the sales of Romelu Lukaku and Achraf Hakimi in the summer of 2021.
However, it is reported that continuing austerity is required in order to balance the books, as significant revenue growth is limited until a new stadium is completed.
The Nerazzurri have enjoyed commercial success, such as in securing a positive deal with Nike to manufacture their kit, but this has been offset somewhat by a breakdown in a deal with DigitalBits.
Meanwhile, Inter are still recovering from Covid-era financial struggles and have benefitted from relaxed financial measures, but must face up to these soon.
Assets have been re-evaluated at €204m, whilst towards the end of the 2020-21 season, the Zhang family dispersed €75m to the club at 8% interest rate, turning €15m of this into equity.
Similarly, there is the €275m maxi-loan taken out Inter’s holding company from investors Oaktree Capital which must be paid off, but the sales of Lukaku and Hakimi have eased the burden on Suning somewhat.
However, it is hinted that whilst Suning can draw on €100m of that loan to help prop the club up, other revenues will come from assets, including potentially player sales.
With such financial pressures, and a statement in the formal accounts noting that a change of ownership within 12 months would maintain current obligations, the newspaper has argued that Zhang’s denial that sale will not happen is not a promise he can necessarily keep.