Inter report near €50m loss, but exit UEFA Settlement Agreement

inter milan logo

By David Owen

October 29 – Inter Milan, lying hot on Juventus’s heels after a promising start to the Serie A season, have reported a net loss of €48.4 million, attributed to “significant investments” made to strengthen on-field performance.

The Chinese-controlled club emphasised, however, that it had “fulfilled the cumulative break-even requirements of the UEFA Settlement Agreement signed in May 2015”. This, it said, had enabled it to exit the agreement.

As previously flagged, consolidated revenues for the 2018-19 financial year rose 20% to a record €417 million. Within this, sponsorship revenue was said to be up 9% at €138 million.

The club, which was taken over by China’s Suning in 2016, has put its faith in last season’s Manchester United strike-force Romelu Lukaku and Alexis Sánchez, both of whom joined in August, the Chilean on loan.

Corporate CEO Alessandro Antonello described the financial statements as “extremely positive”. He added: “This ensures the club can continue its plans to invest in strengthening the team, in infrastructure and in all the other strategic assets.”

Infrastructure projects include the proposed new San Siro. The club’s new headquarters was opened in June.

Contact the writer of this story at moc.l1600621723labto1600621723ofdlr1600621723owedi1600621723sni@n1600621723ewo.d1600621723ivad1600621723