The main shirt sponsorship from Paramount+ will be an important financial boost for Inter Milan in the 2023-24 fiscal year.
This is highlighted in today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews.
Inter’s board of directors met yesterday to approve of the club’s set of accounts for the fiscal year of 2022-23.
The financial statements for the most recent fiscal year see the Nerazzurri record losses of around €85 million.
This is a significant reduction compared to the losses in the previous set of accounts. However, an even greater reduction is needed.
The Nerazzurri must further improve their financial situation in order to fall within tightening Financial Fair Play regulations that UEFA is getting ready to impose.
Therefore, Inter will have to look for a further way to reduce net losses.
Paramount+ Deal Could Be Key To Inter Milan Reducing Losses
In the most recent fiscal year, the Champions League was key to Inter recording a more positive balance compared to previous ones.
The combination of prize money from UEFA and gate receipt revenues from knockout matches was a major boost for the Nerazzurri.
On top of that were the revenues that came in via the usual channels. Stadium gate receipt earnings, player sales, commercial partnerships.
But one aspect in which things did not look so positive were on the shirt sponsorship front.
Inter’s deal with cryptocurrency company DigitalBits was nothing short of an utter disaster.
This was the result of the main shirt sponsor’s total inability to pay the amount that they owed the Nerazzurri.
Therefore, those lost revenues did impact Inter’s balance sheet quite a bit.
This season, by contrast, the Nerazzurri have a more stable partnership with streaming company Paramount+.
Inter will earn at least €15 million from that deal. That amount will go a long way towards achieving a further reduction in losses compared to the most recent fiscal year.