Inter have announced they expected to sign a settlement agreement with UEFA’s Club Financial Control Body after recording a break-even deficit in each of the past four years.
The club released a statement in which they explain they are likely record break-even deficit for 2022 and have transmitted this information to European football’s governing body.
Inter insist this situation is quite common and has affected other clubs across the continent and that they expect to sign an agreement settlement with UEFA by the end of June 2022.
A club statement read: “As reported in our Q2 report, in February 2022 UEFA opened proceedings in respect of the club in accordance with Article 12 (1) of the Procedural rules governing the UEFA Club Financial Control Body (“CFCB”) – Edition 2021, due to the FFP break-even deficit we recorded in the monitoring period covering the reporting periods 2018, 2019, 2020 and 2021.
“A break-even deficit is also expected for the reporting period ending in June 2022 and already communicated to UEFA.
“According to our evidence, same situation applies to a number of other clubs in Italy and Europe which recorded a FFP break-even deficit measured according to the current rules.
“While interactions with UEFA are still in progress, we expect to sign a settlement agreement before end of June 2022 which will include certain financial ratios we will have to meet in the reporting periods ending in June 2023, 2024 and 2025.
“These ratios are expected to be set according to a framework aimed at gradually bringing the club to be fully compliant with new UEFA “football earnings rule” by the 2025-26 sporting season.
“We also expect the settlement agreement will include a possible mechanism of financial and sporting sanctions mainly related to the breach of the agreed financial ratios (with these sanctions proportionate to the size of the potential breach).”
Inter have struggled financially over recent seasons and have been put in a position where they have had to let some of their biggest assets leave.
After winning the title last season, Hakimi and Romelu Lukaku – two key components – joined Paris Saint-Germain and Chelsea respectively.
And there are fears there are likely to have to take similar action this summer with defender Alessandro Bastoni linked with a move away.
we had to serve a year out of europe for making losses. Throw them out of europe.
It is hard to understand why UEFA are still pressing ahead with Farcical Fair Play. Notwithstanding the sheiks humiliated them in court, there has been a worldwide pandemic for 2 years – surely they should be helping clubs? No wonder clubs wanted to form a super league.
Yes, Milan got kicked out of Europe for less.
4 straight years of break-even deficit is not sustainable.
Punishment needs to be dolled out to prevent other clubs from making the same mistakes.
Urban Sombrero, clubs should help themselves by not signing players for 250m and giving them 30m per year contracts. Full stop. All it takes is two or three clubs with unlimited funds and the entire market gets skewed. Problem is there is a whole league that seems to have unlimited funds. The great corrupter Murdoch understood that if he piled money into a league then it would buy all the top talent which would return the investment five fold because everyone would want to pay to watch that league. You think fuel prices are high? Football player prices have been incredibly inflated for the last 10-15 years. Might as well not even bother calling it inflation anymore. The only farce is the idea European football can survive without salary caps and % of revenue spending caps.
This is hilarious. UEFA picking on a “small” club like Inter. While the Sheiks are funneling funds through their shell companies, paying themselves, recouping money through advertisements, UEFA are wondering why Inter are breaking even. Why doesn’t FIFA step in and force Italian teams to build their own stadiums. You’ll see how fast the red tape disappears if FIFA were to step in and ban clubs who don’t own their own stadiums
@Jimbo Good point……..just look at the state of italian football politically which is a joke a clubs like Inter and Milan have to go through political hell just to build a combined stadium. That’s two biggest clubs now imagine for a small club in italy who wants to build a stadium. People complain about why EPL is better but look at their political structure. Investors who wants the highest return of their money wouldn’t want to get a team in Italy where they can get way more freedom in EPL.
UEFA are a sad joke, corrupt organization that allowed P$G and Man City to turn unlimited amounts into football. Just f#ck off UEFA