Inter cut losses to €85m for 2022-23, while Steven Zhang ‘provided new shareholder loans for a value of €51m and recapitalised the club with €86m.’
The Nerazzurri’s Board of Directors has approved the draft financial statement for the 2022-23 financial year. The document will be submitted for approval at the club’s Shareholders’ Meeting, which will be held at the end of October.
With an official statement released Tuesday afternoon, the Nerazzurri highlighted the most relevant figures from their draft financial statement.
“During the 2023 solar year, the majority shareholder provided new shareholder loans for a value of €51m and recapitalised the club with €86m, with the owners’ continued support driving Inter to even higher performance levels and absorbing the impact of losses. Besides strengthening the first team, the majority shareholder has continued to invest in infrastructure and in developing the club on an organisational level,” said the Nerazzurri.
“The club recorded a significant reduction in losses when compared to the 2021-22 financial year, from €140 million to €85 million, marking a decrease of €55m. This development is the result of a dual positive impact:
- A reduction in operating costs, which fell from €528m to €465.5m. Meanwhile, actions taken in the transfer window in the summer of 2022 cut the club’s wage bill.
- An increase in revenue of around €60m net of player trading, with total revenues amounting to €425m.
“Matchday revenue was a contributor to this rise, as the season was the first since 2020 to be played with the stadium gates fully open and saw the team reach the UEFA Champions League final. Thanks to the support of the fans, who once again helped Inter achieve Italy’s highest attendance figure and feature among the top clubs in Europe, stadium revenue exceeded the €80m mark, the highest in the club’s history. There was a further increase in revenues from audiovisual rights due to last season’s extraordinary run in the Champions League.”
Following their positive financial results, Inter rule out possible sanctions from UEFA regarding breach of Financial Fair Play: “The club’s 2022-23 financial results will be assessed by the relevant UEFA committee. The club takes the view that it has complied with the terms of the Settlement Agreement and excludes the possibility of financial or sporting sanctions in relation to last season.
“The highlight of the 2022-23 season was the team’s extraordinary European campaign, which culminated in a historic Champions League final, the sixth in the club’s history. In January and May, Inter added two pieces of silverware to the club trophy cabinet: the ninth Coppa Italia and the seventh Italian Super Cup.”
Inter’s official statement ends with an overview and prospects for the current campaign.
“The club took a highly balanced approach to the summer transfer window ahead of the new season, with excellent additions to the team alongside ongoing efforts to optimise the cost of the squad, ensuring tangible progress towards the target of combining financial sustainability and highly competitive performances on the pitch.
“To support the club’s sporting growth and consolidate the international appeal of the Inter brand, a renewal has been signed with technical sponsor Nike, a partner of the club since 1998, which will bring the partnership to its 30th anniversary in 2028. The partnership with global entertainment giant Paramount+, which appears on the front of the Nerazzurri jersey, has also been confirmed, while U-Power has been added as Back-of-Shirt Partner.”
Simone Inzaghi’s Inter have had a convincing start to the season on the pitch with five wins in the opening five games. They are also the best attack and the less-beaten defence in the league.
Last but not least, Inter also dodged the bullet by abandoning talks with Lukaku.