After unveiling the new logo, Inter closed the balance sheets for the last six months of 2020 with a €62.7M loss, which is double the amount compared to the previous semester. Despite that, the economic situation of the club is improving after some tribulations. The Suning family was granted a €250M loan by Goldman Sachs that will allow them to plan the next moves without haste, Tuttosport reports.
The club issued a statement following the meeting of the board of directors: “The Inter ownership confirmed that it will continue to guarantee the necessary financial support, which never lapsed. The losses were moderate considering the global pandemic and mostly caused by the lack of income from ticket sales, while the payroll grew.”
The Nerazzurri paid the installment for the Achraf Hakimi deal and the wages that were due by the end of March, avoiding possible sanctions by UEFA. President Steven Zhang is rumored to be travelling to Milan in the second half of April, something he has not in a long time due to restrictions.
The recent loan will add to the debt of the club, which will also have to re-finance a €375M bond in 2022. While winning Scudetto would provide a boost to the brand, Suning is looking for ways to bankroll further investments to keep the team at the top. They rejected an offer from BC Partners because it was lower than their €1B evaluation of the team. They would rather cash in on the 31 percent of the shares owned by LionRock Capital rather than outright selling the team.