Inter confirm €245.6m loss for 2020-21

by | Oct 28, 2021 13:26

Inter shareholders have approved the results for the financial year ending 30 June 2021 with a loss of €245.6m, with almost a half of it due to the COVID pandemic.

“The F.C. Internazionale Milano S.p.A., Shareholders’ Meeting, held via video conference, has approved the 2020/21 financial results, which were significantly impacted for the entire duration of the season by the effects of the Covid-19 pandemic,” the club’s official statement read.

“The year saw consolidated revenues of €364.7 million and losses of €245.6 million. The impact of Covid-19 was approximately €110 million: around €70 million due to the complete lack of matchday revenue following the closure of stadiums and around €40 million due to the reduction in sponsorship contracts as a result of the Club being unable to provide benefits and partners’ reduction in business. A further €30 million was due to the termination of sporting contracts.

“Having reached the end of their respective terms, the F.C. Internazionale Milano S.p.A Board of Directors and Board of Auditors were re-appointed for the 2021-2024 three-year term.”

“Winning our 19th Scudetto is a memorable achievement and reward for the amazing work done by the team and everyone at the club, as well as the incredible passion shown by the Nerazzurri fans, who had been waiting 11 years for this moment,” said Inter president Steven Zhang.

Zhang confirms Suning’s long-term commitment to Inter

“We have come a long way since we took over in 2016: Inter has become a global, successful, innovative club connected with the new generations around the world. Our work and commitment are shown in the result, the Club is back to win with a clearly defined vision. Within the extraordinary economic and social context created by the pandemic, the club’s financial stability and sustainability and keeping the team challenging at the highest level are the focal points of our strategy.”

 

3 Comments

  1. Muzaffar

    What I fail to understand is that Inter and Suning constantly use the Covid excuse to cover up for their massive losses/debts.

    Whilst I am not denying that the pandemic has had a massive impact on clubs and their subsequent losses of multi million euros/dollars/pounds, why is it just Inter who seem to be the only ones that constantly use this as a shield for their financial performances? Surely each and every club was impacted in exactly the same manner…!?!

    And this too after winning the Scudetto and making massive profits from their two big sales in the post season!

  2. uewst

    @Muzaffar… Calm down, the other big clubs had similar loses, just check the numbers, there are plenty of articles about it. Media always likes to make a big deal of it when Inter name is attached! Moreover, Serie A winner doesn’t get much more than others in the league table, again there was a good article in FI.

    Inter’s two big sales happened after 30 June 2021 so will be counted for next financial year.

    …and please check “Federal Prosecutor investigates suspicious Serie A transfers” and “Arthur, Cancelo, Osimhen: the biggest Serie A transfers under investigation” all in published in FI to understand how teams fabricate their loses, just educate yourself.

  3. Meazza

    I think Inter have just been more open about things. Juve have been pretty tight lipped but you can read between the lines of what they have said, the Super League, their posted losses and reinvestment of capital by shareholders. Napoli have been pretty affected, again less open about things though. The PL teams are extremely insulated by their rights deal. Inter also suffer due to the Chinese Govt’s crackdown on pushing money out of the country (due to Covid but an ongoing issue for China where the wealthy park their wealth outside of China and out of the reach of the Govt) and this is an issue unique to Suning and any other Chinese national ownership groups.

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