Inter reports reduced losses of €85m but says it is still within its UEFA Settlement Agreement

September 27 – Inter Milan are reporting losses of €85 million for the 2022/23 financial year on turnover of €425 million.

The figures reflect a €55 million drop in losses compared to the €140 million losses of the previous year.

The club’s majority shareholder, China’s Suning Holdings, absorbed the loss with the injection of provides €51 million of new funds and recapitalised club with €86 million.

An Inter press release said: “Besides strengthening the first team, the majority shareholder has continued to invest in infrastructure and in developing the club on an organisational level.”

Inter, who have previously broken UEFA’s financial fair play rules, is still subject to a settlement agreement which the club said it believes it is meeting.

“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,” said the club statement.

The club said that better results were achieve through a reduction in operating costs, which fell from €528 million to€465.5 million, while steps taken in the Summer 2022 transfer window reduced the club’s wage bill.

There was also an increase in revenue of around €60 million net of player trading, with total revenues amounting to€425 million.

With the club able to open the stadium to full capacity post-covid, and a run to the Champions League final (where Inter lost by a goal to Manchester City), stadium revenue topped the €80 million mark.

Looking ahead, the club pointed to a “highly balanced approach to the summer transfer window”, an improved renewalwith technical sponsor Nike, and a new partnership with global entertainment giant Paramount+ as front-of-shirt sponsor. U-Power have been added as Inter’s back-of-shirt sponsor.

The club said that demand for match tickets was so great this summer that all 40,000 season tickets made available soldout within a matter of weeks.

Now the financial statement will be submitted for approval at the F.C. Internazionale S.p.A. Shareholders’ Meeting atthe end of October.

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