Inter's Financial Situation

[IM21]

Antonello said Digitalbits still didnt pay 17M.

Just dont do business with crypto shit next time you morons.

 

[Jnr]

Oh, revenues increased? Its time to pay for SkriCapitano, now is the time!

Inter President Steven Zhang insists Suning’s commitment to the club ‘is long term’ while the Nerazzurri confirm their revenues increased by circa €75m in 2021-22.

The club’s shareholders meeting is taking place at the club’s headquarters and approved the financial results for 2021-22.

Inter increased revenues by €75m during the financial year ending on June 2022, earning €439.6m compared to €364m in 2020-21.

The Serie A giants also reduced costs by circa €140m, going from a loss of €245.6m in 2020-21 to €105m last year.

Inter President Steven Zhang opened the meeting with a speech confirming Suning’s long-term commitment. He thanked director Beppe Marotta saying that his job helped Inter remain at the highest level of Italian and European football, and discussed the challenges for the future.

The club’s owner had already denied that the club was up for sale on Wednesday after Inter’s 4-0 win over Viktoria Plzen in the Champions League.

Imagine having a 30M€ a year paying shirt sponsor and new stadium..

 

[crzdcolombian]

The start of that sounded so good then

250m loss to a 105 m loss!!

How the fk do we still exist!!!

 

[.h.]

And itll come down even further this year - we've probably trimmed another 20-40mil in wages I guess? Of course we have some fees going out, and not much coming in, and also the sponsorship issue.

 

[CafeCordoba]

This year we gonna also have full season of 100% capacity used in stadiums (hopefully!).

Revenues going up is pretty nice. The sponsorship issue this season is a bad one, we need that money. But it will probably be there in the balance sheet still? And if we simply won't ever get that money, we will write it off in the coming years, next year etc like we did with some of the Chinese sponsors?

Were Chilean player buyouts included in those released books? I'm at mobile and don't have time to check right away.

 

[Adriano@10]

Antonello said Digitalbits still didnt pay 17M.

Just dont do business with crypto shit next time you morons.

LOL wtf why are we still carrying those fucks on our chest if they dont pay the fuck up?

 

[Glass box]

LOL wtf why are we still carrying those fucks on our chest if they dont pay the fuck up?

The club probably wants to uphold their end of the deal, in case they go to court to build a stronger case.

The bad thing is, even if Inter wins in court, it doesn't mean they'll get the money if Digitalbits are broke. You can't take money from a bum. I don't know if they really are broke, just speaking in case that's the reason they don't pay us.

 

[.h.]

LOL wtf why are we still carrying those fucks on our chest if they dont pay the fuck up?

because if we scrap them before the court says its voided or the contract is legally in default (depending on the terms), they'll be able to claim its mutual termination

PLUS, its not like we're gonna carry something else, so we might as well until a new sponsor is sorted out?

 

[CafeCordoba]

Yeah it's not like Nike start producing empty kits for us suddenly. We would need to sell empty kits as well and sure as hell Nike won't do that just like that.

Hopefully we can get a new sponsor soon.

 

[Adriano@10]

because if we scrap them before the court says its voided or the contract is legally in default (depending on the terms), they'll be able to claim its mutual termination

PLUS, its not like we're gonna carry something else, so we might as well until a new sponsor is sorted out?

your probably right from a legal perspective, but usualy if i sign a contract and the counter party does not do their part (pay) i dont have to deliver either i d guess if socios have not paid by now we d be well in our rights to tell em to fuck off....
Also we re advertising a fucken ponzi for free at this point just does not sit well with me.

But your right if inter hopes to recover the full summ we re better of just playing it nice with these fucks.

 

[.h.]

your probably right from a legal perspective, but usualy if i sign a contract and the counter party does not do their part (pay) i dont have to deliver either i d guess if socios have not paid by now we d be well in our rights to tell em to fuck off....
Also we re advertising a fucken ponzi for free at this point just does not sit well with me.

But your right if inter hopes to recover the full summ we re better of just playing it nice with these fucks.

If we're in the position where we no longer deliver the services, then we stop the accrual of liability from Digitalbits. At this point, while we have nothing better, we're still making them liable for money to us - which means when it comes to court, we can sue them for recovery of that liability

plus, to be honest, wep robably cant afford to print a bunch more kit without any sponsors, and then hopefully when we get a new sponsor print yet another kit.

 

[Nerazzurri_Ninja]

when are we selling?

 

[Forzanerazzurri]

When are we getting sponsorless kits?

 

[Mr-Intermilan]

The start of that sounded so good then

250m loss to a 105 m loss!!

How the fk do we still exist!!!

lets hope they arent cooking books.

 

[IM21]

so, how many players do we have to sell?

https://twitter.com/i/web/status/1588230020870332418

 

[Corrode]

sell the whole club into the arabs ASAP

 

[Capo]

so, how many players do we have to sell?

https://twitter.com/i/web/status/1588230020870332418

I thought there was brief to repay 70M euro by the Summer of 22/23.

Would this windfall cover that, e.g not having to sell Dumfries, Skriniar or Bastoni?

 

[Il Drago]

https://twitter.com/i/web/status/1588446481304137733

 

[Universe]

 

[DARi0]

HOW ZHANG AND SUNING PLAN TO AVOID SELLING INTER

Steven Zhang does not want to let go of Inter and is currently studying a plan to avoid being forced to sell the club, reports detail.

Il Sole 24 Ore details how the Nerazzurri president is now exploring a way to refinance the debt with Oaktree, something that carries an interest rate of around 12%. It’s a subordinated debt, something called HoldCo financing.

In May 2021, Oaktree lent around €275m to Luxembourg-based Grand Tower Sarl, one of the holding companies which the Zhang family use to control Inter. This was a Pik (payment-in-kind) loan, where the interest will be paid off in full at the end, accumulating over the years. When the debt is due in May 2024, the Zhang family would need to pay around €350m to the US fund.

Should this fail to happen, the Californian fund could become the new owners of Inter, similar to what happened with Elliott and former Milan owner Yonghong Li.

Zhang is now exploring a way to refinance the debt, working closely with Goldman Sachs and the Raine Group, evaluating all the possibilities. Options at this stage range from selling a minority stake to a new parter or selling the club completely, which is valued at around €1.2 billion.

Here are some details on the news shared by Il Drago. Basically they just want to keep on rolling baby!