Inter Milan’s club directors have managed to make great strides towards a balanced budget despite a lack of a cash injection from owners Suning.
This is highlighted in today’s print edition of Rome-based newspaper Corriere dello Sport, via FCInterNews.
This summer was another one of upheaval on the transfer market for Inter.
Twelve players left the club and twelve players arrived.
And as the Corriere points out, several players who left were among the team’s highest earners. Each of Edin Dzeko, Romelu Lukaku, Joaquin Correa, Marcelo Brozovic, and Milan Skriniar took high salaries out the exit door as they left.
And whilst players like Marcus Thuram and Benjamin Pavard have come in with fairly high wages, the net result has been a big reduction in the wage bill.
Meanwhile, the amortization cost of the Nerazzurri’s squad has also dropped by around €8 million.
Inter brought in significant capital gains from the sales of Andre Onana, Marcelo Brozovic, Facundo Colidio, and Lorenzo Pirola. Meanwhile, the Nerazzurri took a €7-8 million capital loss from selling Robin Gosens.
Inter Milan Directors Balancing The Budget Without Cash Injections From Suning
This work on the transfer market is a testament to the strategy that Inter’s directors are adopting.
The Nerazzurri directors know full well that they can’t rely on big cash injections from owners Suning.
It is true that the owners do still intermittently put cash into the club. But they cannot constantly cover operating losses as they had in the past.
It is precisely these sorts of previous cash injections which, coupled with Suning’s own unrelated financial issues, caused the Nerazzurri owners to have to take out a massive loan from US-based fund Oaktree Capital.
And as the Corriere note, Suning put their shares in Inter up as collateral for that loan.
Therefore, the very status of Suning at Inter is in doubt. If the Nerazzurri owners can refinance before the due date next May, then they can stay at the helm.
But conversely, there is a real chance that Inter could have new owners one way or another. And this eventuality could come in less than a year.
And in any event, the Corriere report, the Inter directors have a clear strategy in mind in view of a possible change.
They want to make sure they arrive at next May with a more or less balanced budget.
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