Inter Financial Report Reveals Reduced Losses And Increased Revenue For 2021/22

Following on from Juventus confirming record losses for a Serie A club – a subject discussed in this previous column – rivals Inter have published their own accounts for the 2021/22 campaign.

The report (which is available here on the club’s official website) shows the Nerazzurri have made major improvements to their financial position, which had been a major cause for concern in recent years.

However, the results published this week and approved by the board of directors indicate that the end of the global pandemic has been a key factor in reducing Inter’s losses and increasing their revenue.

They report an increase of approximately €75 million ($71.78m) in consolidated revenues, taking the total there to €439.6 million ($420.74m), compared to €364.7 million ($349.05m) from the previous financial year.

According to Inter’s statement, “financial comparatives, which mean the end of the 2019/20 season is not taken into account in the 2020/21 financial year, despite the time overlap, the increase in revenues is approximately €140 million ($133.99m).”

The club also revealed that the financial year ended with a loss of €140million ($133.99m), which is a reduction of about €105 million ($100.49m) on their losses of €245.6 million ($235.06m) in 2021.

Another interesting note in the statement was a line to add that “the Majority Shareholder has already formally expressed his commitment to backing the group by ensuring asset support.”

That majority shareholder is of course the Suning Group, who last year injected a shareholder loan of €75 million ($71.78m) into the club, and now it is believed they are willing to invest even more.

According to Wednesday’s edition of La Gazzetta dello Sport, Suning are set to inject a further €100 million ($95.71m) into the club to “add more breathing room to the budget” which will be welcome news to Inter supporters everywhere.

What might not be so well-received is the news that San Siro will be demolished in order for a new stadium to be built over the next ten years. A public debate to begin the process ends next month and Inter director Alessandro Antonello revealed further details at a press conference this week.

“Milan and Inter want to invest and part of the money will help the city of Milano,” he said per Football Italia. “The planned investment is €1.3 billion ($1.25 billion) and will increase job opportunities in the area.

“We have sporting objectives to be more competitive on national and international fields. But we also have social targets and we are looking for an environmentally sustainable project,” Antonello continued.

“The area will be open to the public and respect the highest quality standards. Before the pandemic, the average attendance was around 60,000, which raised after COVID. We are working toward a stadium with a capacity of 60-65,000.”

Finally, in summing up the entire financial report with projections for the current season, Inter’s website had the following to say:

“The 2022/23 football season began with San Siro full of Inter fans,” said the report. “This followed a successful season-ticket campaign, the first since the pandemic, confirming the record-breaking trend of attendance at the Meazza.

The club’s two primary objectives remain steadfast: maintaining the team’s competitiveness at the highest level in every competition and strengthening its financial position.”