finances, revenues, transfers and salaries Inter Milan

Inter Milan's record for the 2021/22 season shows losses despite winning the Coppa Italia and Supercoppa Italiana and finishing second in Serie A under new coach Simone Inzaghi. The pre-tax loss fell from 239 million euros to 137 million euros (after-tax 140 million euros), mainly due to increased player transfer profits of 105 million euros. However, revenue fell by EUR 28 million (8%) to EUR 325 million.

 

Operating expenses decreased by €39 million (7%), including a €29 million reduction in one-off provisions. However, net interest payments increased by more than a third (13 million euros  euros) to 48 million euros.

 

The return of fans to the stadium meant an increase in matchday revenue by €38m to €40m, while commercial income fell by €14m (10%) to €126m due to reduced income from sponsors.

 

Broadcasting license fees also fell by €50 million (24%) from €206 million to €156 million, mainly due to funds being shifted from the extended 2019/20 season for matches played after the June balance sheet date. Player loan fees fell by EUR 2 million to EUR 4 million

 

Inter Milan's payroll expenses were reduced by €13m (5%) to €248m, while player amortization fell by €36m (26%) to €101m. However, player write-offs remained unchanged at €17 million. Other expenses increased by €29 million (40%) to €102 million, including higher costs for matches with fans as well as higher agent commissions, write-downs increased by €10 million to €25 million.

 

Although Inter Milan's situation has improved in 2021/22, the after-tax loss (€140m) is still high, but still better than Juventus' massive €254m loss limited to 67 million euros.

 

Almost all Italian clubs have suffered significant losses in the last two years, influenced by the Corona pandemic. However, there are a few exceptions who managed to report a profit in 2021/22, namely Fiorentina with €47m thanks to the sale of Vlahovic to Juventus and Atalanta with €35m.

Inter Milan's net loss for the 2021/22 financial year amounts to 140 million euros, which can be considered moderate compared to other European football clubs. Only two clubs, namely Barcelona with a loss of 178 million euros and PSG with a loss of 370 million euros, have recorded higher losses than Inter Milan for this period, apart from Juventus.

 

Inter Milan have lost a total of €784m over the past decade, with €540m of that during the six years under the control of Chinese investor Suning. During this period, the club was only able to record a profit once. In terms of player transfers, Inter Milan have been less successful than other clubs such as Juventus, Napoli and Roma in recent years. Since 2017, the club have only managed to sell four players for more than €10m, with Cesare Casadei's transfer to Chelsea in the 2021/22 season bringing in the highest-grossing €15m.

 

Compared to other clubs in Serie A, Inter Milan have posted a hefty operating loss of €168m, surpassed only by Juventus. Inter Milan's revenue fell by €45m or 12% from €370m to €325m in the 2021/22 season due to the reduction in sponsors. However, total revenue, including player transfers, increased by 23 million euros or 5% from 417 million euros to 440 million euros.

 

According to the 2020/21 financial statements, Inter Milan ranked 14th in the Deloitte Money League, which lists the world's top-grossing football clubs. Inter Milan ranked just behind Borussia Dortmund with a turnover of 338 million euros and Atletico Madrid with a turnover of 333 million euros.

 

Inter Milan TV revenue fell by 50 million euros or 24% from 206 million euros to 156 million euros, mainly due to the premature end of the 2019/20 season on 30 June 2020, leaving 41 million euros on the season were transferred in 2021/22. Inter Milan's domestic TV revenues fell from €125m to €84m (with €25m being pushed over to the 2020/21 season), while international TV revenues fell by €2m to €62m.

 

It is essential that Inter Milan perform well in the Champions League in order to increase TV rights revenues as TV rights in Serie A are comparatively low, totaling €1.1bn.

 

Inter Milan had the highest attendance in Italy in the 2021/22 season with an average of 44,473 spectators.

 

The project of building a new Inter and Milan stadium with a capacity of 60,000-65,000 seats is progressing. Inter director Alessandro Antonello said it was necessary to be able to compete with the main European clubs. However, the planned investment of 1.3 billion euros is a considerable sum.

 

Inter's commercial revenue fell by €14 million (10%) from €140 million to €126 million, mainly due to a further reduction in sponsorship revenues. Commercial sales had increased from 77 million euros in 2016 to 166 million euros in 2019, some of which ended early.

 

Inter replaced their longtime shirt sponsor Pirelli (€11m) with Socios (€16m) in 2021/22 and have DigitalBits as shirt sponsor from 2022/23, however the deal is being negotiated due to outstanding payments.

 

The kit deal with Nike runs until 2024 and Inter would like to extend it, albeit to double the existing €12.5m.

 

Inter's payroll costs decreased by 14 million euros (5%) from 262 million euros to 248 million euros, mainly because last year 18 million euros due to the pro-rata payment of wages for March-June 2020 to August 2020 following the extension were paid for the season.

 

Inter are the second highest in Serie A with €248m in wages, behind Juventus (€352m) and ahead of AC Milan (€170m). Inter's wage turnover ratio is 76%, which is mid-table in a Serie A comparison and better than Juventus (85%) but not as good as Milan (58%).

 

Inter's annual transfer fee amortization cost, also known as player amortization, has fallen by €36m, or 26%, on the back of some key departures. These costs now amount to 101 million euros. In addition, 17 million euros were booked for player write-offs after the contract termination of Christian Eriksen (no Italian license after heart problems), Alexis Sanchez (Marseille) and Arturo Vidal (Flamengo). Inter thus reports a payback of €101m, which is lower than Juventus's €170m and also lower than Napoli's €111m, but higher than AS Roma's €89m and AC Milan's €63m euros is.

 

Inter's other expenses increased by 30 million euros or 40% and now stand at 102 million euros. This includes higher costs for hosting matches with fans and an increase in agent fees from €11 million to €23 million. Inter is thus at a similar level to Milan with 104 million euros, but still well below Juventus with 130 million euros.

 

Inter have increased their spending on the transfer market to €750m in the last 5 years, which is significantly more than the €501m spent in the previous 5 years. In the 2021/22 season, Inter have spent €116m, with the biggest purchases being Joaquin Correa (Lazio) for €33m, Robin Gosens (Atalanta) for €27m, Zinho Vanheusden (Standard Liège) for €15m, Kristjan Aslani (Empoli) for €14m and Denzel Dumfries (PSV) for €13m.

 

Inter had the second-highest gross transfer spend in Serie A over the last 5 years (until the 2022/23 summer window) at €495m, although that's almost €400m less than Juventus's. The net spending situation is different, however, as the lucrative sales of Lukaku and Hakimi mean Inter only had a €46m spend, which is significantly less than Juventus' €282m and Milan's €261m (and even less than Monza with 50 million euros).

 

Inter Milan reported €1m in operating cash flow in financial year 2021/22, bolstered by €213m in player sales. The proceeds from the sale were used to finance €126 million in player transfers, €31 million in interest, €15 million in investments and €4 million in taxes, resulting in a net cash inflow of €41 million led. Inter's cash balance rose from 98 million euros to 139 million euros as a result of this positive development, which is the highest figure in Italy.

 

Inter's gross debt increased by 17 million euros over the same period to a total of 489 million euros, of which 408 million euros consists of bonds and 81 million euros consists of shareholder loans. The bank credit line of EUR 50 million has been repaid in full. In December 2022, EUR 415 million of maturing bonds were refinanced and now mature in February 2027.

 

Inter Milan received a total of 913 million euros from the owners over the past 10 years, of which 549 million euros came from Suning. However, in the last 5 years the owners have only invested 190 million euros compared to 723 million euros in the previous 5 years. The level of owner financing (equity plus owner loan) over the 3 years to 2021 was €75m, well below the level of rivals such as Milan (€540m), Juventus (€298m) and Chelsea (€296m).

 

It is reported that Suning wants to sell the club but Inter president Steven Zhang has denied the rumours.

Inter Milan's record for the 2021/22 season shows losses despite winning the Coppa Italia and Supercoppa Italiana and finishing second in Serie A under new coach Simone Inzaghi. The pre-tax loss fell from 239 million euros to 137 million euros (after-tax 140 million euros), mainly due to increased player transfer profits of 105 million euros. However, revenue fell by EUR 28 million (8%) to EUR 325 million.

 

Operating expenses decreased by €39 million (7%), including a €29 million reduction in one-off provisions. However, net interest payments increased by more than a third (13 million euros  euros) to 48 million euros.

 

The return of fans to the stadium meant an increase in matchday revenue by €38m to €40m, while commercial income fell by €14m (10%) to €126m due to reduced income from sponsors.

 

Broadcasting license fees also fell by €50 million (24%) from €206 million to €156 million, mainly due to funds being shifted from the extended 2019/20 season for matches played after the June balance sheet date. Player loan fees fell by EUR 2 million to EUR 4 million

 

Inter Milan's payroll expenses were reduced by €13m (5%) to €248m, while player amortization fell by €36m (26%) to €101m. However, player write-offs remained unchanged at €17 million. Other expenses increased by €29 million (40%) to €102 million, including higher costs for matches with fans as well as higher agent commissions, write-downs increased by €10 million to €25 million.

 

Although Inter Milan's situation has improved in 2021/22, the after-tax loss (€140m) is still high, but still better than Juventus' massive €254m loss limited to 67 million euros.

 

Almost all Italian clubs have suffered significant losses in the last two years, influenced by the Corona pandemic. However, there are a few exceptions who managed to post a profit in 2021/22, namely Fiorentina with €47m thanks to the sale of Vlahovic to Juventus and Atalanta with €35m.

Inter Milan's net loss for the 2021/22 financial year amounts to 140 million euros, which can be considered moderate compared to other European football clubs. Only two clubs, namely Barcelona with a loss of 178 million euros and PSG with a loss of 370 million euros, have recorded higher losses than Inter Milan for this period, apart from Juventus.

 

Inter Milan have lost a total of €784m over the past decade, with €540m of that during the six years under the control of Chinese investor Suning. During this period, the club was only able to record a profit once. In terms of player transfers, Inter Milan have been less successful than other clubs such as Juventus, Napoli and Roma in recent years. Since 2017, the club have only managed to sell four players for more than €10m, with Cesare Casadei's transfer to Chelsea in the 2021/22 season bringing in the highest-grossing €15m.

 

Compared to other clubs in Serie A, Inter Milan have posted a hefty operating loss of €168m, surpassed only by Juventus. Inter Milan's revenue fell by €45m or 12% from €370m in 2019 to €325m in the 2021/22 season due to the reduction in sponsors. However, total revenue, including player transfers, increased by 23 million euros or 5% from 417 million euros to 440 million euros.

 

According to the 2020/21 financial statements, Inter Milan ranked 14th in the Deloitte Money League, which lists the world's top-grossing football clubs. Inter Milan ranked just behind Borussia Dortmund with a turnover of 338 million euros and Atletico Madrid with a turnover of 333 million euros.

 

Inter Milan TV revenue fell by 50 million euros or 24% from 206 million euros to 156 million euros, mainly due to the premature end of the 2019/20 season on 30 June 2020, leaving 41 million euros on the season were transferred in 2021/22. Inter Milan's domestic TV revenues fell from €125m to €84m (with €25m being pushed over to the 2020/21 season), while international TV revenues fell by €2m to €62m.

 

It is essential that Inter Milan perform well in the Champions League in order to increase TV rights revenues as TV rights in Serie A are comparatively low, totaling €1.1bn.

 

Inter Milan had the highest attendance in Italy in the 2021/22 season with an average of 44,473 spectators.

 

The project of building a new Inter and Milan stadium with a capacity of 60,000-65,000 seats is progressing. Inter director Alessandro Antonello said it was necessary to be able to compete with the main European clubs. However, the planned investment of 1.3 billion euros is a considerable sum.

 

Inter's commercial revenue fell by €14 million (10%) from €140 million to €126 million, mainly due to a further reduction in sponsorship revenues. Commercial sales had increased from 77 million euros in 2016 to 166 million euros in 2019, some of which ended early.

 

Inter replaced their longtime shirt sponsor Pirelli (€11m) with Socios (€16m) in 2021/22 and have DigitalBits as shirt sponsor from 2022/23, however the deal is being negotiated due to outstanding payments.

 

The kit deal with Nike runs until 2024 and Inter would like to extend it, albeit to double the existing €12.5m.

 

Inter's payroll costs decreased by 14 million euros (5%) from 262 million euros to 248 million euros, mainly because last year 18 million euros due to the pro-rata payment of wages for March-June 2020 to August 2020 following the extension were paid for the season.

 

Inter are the second highest in Serie A with €248m in wages, behind Juventus (€352m) and ahead of AC Milan (€170m). Inter's wage turnover ratio is 76%, which is mid-table in a Serie A comparison and better than Juventus (85%) but not as good as Milan (58%).

 

Inter's annual transfer fee amortization cost, also known as player amortization, has fallen by €36m, or 26%, on the back of some key departures. These costs now amount to 101 million euros. In addition, 17 million euros were booked for player write-offs after the contract termination of Christian Eriksen (no Italian license after heart problems), Alexis Sanchez (Marseille) and Arturo Vidal (Flamengo). Inter thus reports a payback of €101m, which is lower than Juventus's €170m and also lower than Napoli's €111m, but higher than AS Roma's €89m and AC Milan's €63m euros is.

 

Inter's other expenses increased by 30 million euros or 40% and now stand at 102 million euros. This includes higher costs for hosting matches with fans and an increase in agent fees from €11 million to €23 million. Inter is thus at a similar level to Milan with 104 million euros, but still well below Juventus with 130 million euros.

 

Inter have increased their spending on the transfer market to €750m in the last 5 years, which is significantly more than the €501m spent in the previous 5 years. In the 2021/22 season, Inter have spent €116m, with the biggest purchases being Joaquin Correa (Lazio) for €33m, Robin Gosens (Atalanta) for €27m, Zinho Vanheusden (Standard Liège) for €15m, Kristjan Aslani (Empoli) for €14m and Denzel Dumfries (PSV) for €13m.

 

Inter had the second-highest gross transfer spend in Serie A over the last 5 years (until the 2022/23 summer window) at €495m, although that's almost €400m less than Juventus's. The net spending situation is different, however, as the lucrative sales of Lukaku and Hakimi mean Inter only had a €46m spend, which is significantly less than Juventus' €282m and Milan's €261m (and even less than Monza with 50 million euros).

 

Inter Milan reported €1m in operating cash flow in financial year 2021/22, bolstered by €213m in player sales. The proceeds from the sale were used to finance €126 million in player transfers, €31 million in interest, €15 million in investments and €4 million in taxes, resulting in a net cash inflow of €41 million led. Inter's cash balance rose from 98 million euros to 139 million euros as a result of this positive development, which is the highest figure in Italy.

 

Inter's gross debt increased by 17 million euros over the same period to a total of 489 million euros, of which 408 million euros consists of bonds and 81 million euros consists of shareholder loans. The bank credit line of EUR 50 million has been repaid in full. In December 2022, EUR 415 million of maturing bonds were refinanced and now mature in February 2027.

 

Inter Milan received a total of 913 million euros from the owners over the past 10 years, of which 549 million euros came from Suning. However, in the last 5 years the owners have only invested 190 million euros compared to 723 million euros in the previous 5 years. The level of owner financing (equity plus owner loan) over the 3 years to 2021 was €75m, well below the level of rivals such as Milan (€540m), Juventus (€298m) and Chelsea (€296m).

 

It is reported that Suning wants to sell the club but Inter president Steven Zhang has denied the rumours.