Inter‘s shirt sponsor, DigitalBits, have failed to pay a single penny of the agreed sponsorship fees over this season, which should have totalled over €25m.
According to financial statements released by Inter Media and Communication, none of the three €8 million instalments due throughout the 2022-23 season have been received.
The first €8 million instalment was due to be paid in June 2022, the second in October and the final payment in February 2023.
Inter have also not received any of the agreed bonuses, which should have totalled €1.25 million over two instalments.
A statement from the company read: “DigitalBits has not paid the basic fee of €24 million in addition to not having paid bonuses to date for a total amount of €1.25 million.”
“We understand that the crisis in the cryptocurrency industry, which worsened during the second quarter of the year 2022, has significantly affected the client’s ability to meet their obligations.”
As a result, Suning Group, Inter’s majority shareholder, has injected a further €10m into the club, which has come out of a €300 million loan from Oaktree Capital Management.
The Nerazzuri confirmed: “On 22 February 2023, a new shareholder loan of €10 million was received from Grand Tower.”
Grand Tower is one of the holding companies through which Suning controls the club.
DigitalBits is also the shirt sponsor for Serie A rivals Roma, although there is currently no reason to believe that the Blockchain company has defaulted on their payments to the Giallorossi.
— Alfredo Pedullà (@AlfredoPedulla) February 28, 2023