La Grande Inter
La Grande Inter
- Aug 21, 2009
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10 years of FIF
INTER: ANTONELLO OPENS UP ABOUT FFP, ZHANG’S COMMITMENT AND NEW STADIUM
The Nerazzurri and Milan have approved a project to build their new home in the area of San Siro, but fear that it will take longer than expected to build it.
“Building a stadium at San Siro is the first choice for us, but if the public debate leads to a different project or a long time to realise it, we’d move towards a plan B. Having the stadium is more important than where it will be,” Antonello told La Repubblica newspaper.
“The public debate is correct but, as investors, we must be sure about the timing. We must have an alternative in case things don’t go as planned. It’s not a gift for the clubs, but an investment for our and the city’s good.”
Inter announced losses of €245m last season, a record for Serie A clubs.
“Last season’s financial results were affected by extraordinary events such as the pandemic and the terminations of contracts with Antonio Conte, Radja Nainggolan and Joao Mario. We’ll halve our losses this season, let’s say around €100m,” said Antonello.
“Right now, we must ensure economic sustainability so if that means reducing the costs we’ll go this way, but the financial discipline must be accompanied by competitivity on the pitch.”
Antonello doesn’t expect the Nerazzurri to have issues related to UEFA’s Financial Fari play: “Milan, Juventus and Roma are also in talks with UEFA. The effects of the pandemic concern more than 30 clubs in Europe,” he said.
“For now, UEFA has a collaborative spirit and is preparing a transitory agreement leading to new sustainability criteria.
Will the Zhang family remain in charge of Inter in the long run?
“The presence of Steven Zhang in the office close to this one represents their long-term commitment,” noted Antonello.
Yes I know, but it's more, we spent very little of the 160m or something we earned from those two sales. That on top of all our other revenues. How the fuck are we so over budget.Our costs are higher than our revenues. Wages + amortization bill (annual transfer payments).
It`s not just the transfer market overall balance, where we are clearly in the plus as you have mentioned.Yes I know, but it's more, we spent very little of the 160m or something we earned from those two sales. That on top of all our other revenues. How the fuck are we so over budget.
This according to today’s print edition of Milan-based newspaper Gazzetta dello Sport, who report that the President is now strongly considering remaining until the end of the campaign so that he can be as close to the team as possible.
La Gazzetta dello Sport reports Steven Zhang celebrated Inter‘s victory over Juventus with his players inside the Allianz Stadium dressing room and now, he doesn’t want to leave Milan until the end of the season.
Zhang travelled with the Nerazzurri’s squad to Turin where he was in attendance for their Serie A win over Juventus, and he was in good spirits for the match.
He has already been in attendance at a number of matches since arriving in Italy in mid-January, in addition to being in regular contact with the players and staff.
The President was in the locker room before the match began to give a pep talk to the players, something which he picked up from former Nerazzurri President Massimo Moratti who helped mentor him into the role.
Now, Zhang feels that the team is back on track and have a real chance of kicking on from yesterday’s massive win, and so he is planning to stay rather than depart before the end of the campaign.
La Gazzetta reports that Zhang is happy with Inter’s results and performances this season.
He likes to see Simone Inzaghi’s attacking mentality, which allowed the Nerazzurri to play on a par with Real Madrid and Liverpool in the Champions League and beat Juventus this past weekend.
According to the report, Zhang sleeps only 3-4 hours per night as he works with Chinese partners until 1 pm in Italy, focusing on the club in the remaining part of the day. Despite rumours of a possible takeover from PIF, Zhang doesn’t want to leave and will continue to support his players on and off the pitch.
Also a series of writedowns - for example we took a writedown on Joao Mario, Nainggolan valuations which is non-cash losses, theres probably also moving some sponsorships we assumed would be paid into not paid, etcIt`s not just the transfer market overall balance, where we are clearly in the plus as you have mentioned.
You have the see the overall picture - with stadiums being closed for most of the time. This hurt us the most, as the club has lost its main revenue stream. Fixed costs kept running (players, management, staff) while income was missing or crippled at best.
So? He can spend his money on himself, ffs. I bet people here sitll carry credit card debts but still splash out on nice shit for themselves... Suning have already spent literally hundreds of millions on Inter..So this f*ckin guy bought a car for over 3M while the club needs to turn every euro to keep the club going.
Where are the pitchforks?!