Inter Milan Board Of Directors Approve Financial Statements For 2022-23 – €85M Losses Fall Within UEFA FFP Regulations

The Inter Milan board of directors have approved the club’s financial statements for the fiscal year of 2022-23.

This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews, who report that the €85 million in losses that the club have recorded in this set of accounts fall within the UEFA Financial Fair Play regulations.

Today the Inter board of directors met to approve the club’s financial statements for the most recent fiscal year.

Nerazzurri President Steven Zhang was present via a video link from Nanjing.

And as anticipated, the club approved statements which record a total loss of around €85 million.

€85M Total Losses Fall Within FFP Rules

A key matter for Inter has been to ensure that financial losses fall within the limits allowed for by UEFA’s Financial Fair Play regulations.

The club have already successfully met the terms of their settlement agreement with European football’s governing body.

And now, the club have officially ratified a set of accounts that would see them fall within an acceptable range.

The €85 million in losses is down from €140 million that Inter recorded during the fiscal year of 2021-22. This is a significant improvement that sees the Nerazzurri comply with their settlement with UEFA.

The revenues from last season’s run to the Champions League final were a key part of Inter meeting this target.

That comes partly from the prize money from UEFA for each successive knockout stage of the competition.

But the gate receipt revenues from knockout matches at the San Siro were also key.

The Gazzetta also note that Inter owners Suning injected approximately €86 million into the club during the most recent fiscal year. These cash injections came primarily via loans, particularly that from US-based fund Oaktree Capital.

Losses Within Acceptable Range Despite DigitalBits Debacle

As the Gazzetta notes, one major financial blow that Inter suffered during the most recent fiscal year concerned last season’s main shirt sponsor, DigitalBits.

The cryptocurrency company was unable to pay any of the amount that they owed for the season.

That meant that Inter missed out on around €22 million in commercial revenues from that disastrous partnership.

Therefore, the Gazzetta notes, the losses could well be down to €63 million had those revenues arrived.