The whole premise of the argument was how much money Zhang injected to the club...
It's irrelevant if for accounting purposes (somewhere in lesson #56) this made sense for them and the club.
The fact is, the money came in the first three seasons. I don't care and no fan cares if the bookkeeping said something about that 5 years later.
For crying out loud, read the damn room and stop wearing a lecturer's mask.
I think no one contests that Zhangs were *more* sugar daddy in the first few seasons. It's fucking obvious. But it doesnt mean no money flowed to Inter after. Look at this from our 22-23 shareholder report:
- in the context of a financing operation of the LeadingShareholder mentioned above -in the fiscal year ended on June 30, 2021 proceeded to disburse new shareholder loansinterest-bearing at a net fixed rate of 8% per annum for Euro 75 million, of which Euro 50 million on May 20, 2021 andEuro 25 million on June 28, 2021, converted into capital for Euro 15 million on 31 May 2021. During the fiscal year, theLeading Shareholder proceeded to disburse new shareholder loans at a net fixed annual rate of 11% for Euro 51 million,of which Euro 10 million on February 22, 2023, Euro 16 million on March 16, 2023 and Euro 25 million on April 17, 2023,and proceeded to convert into in Shareholders’ equity reserves Euro 10 million on June 30, 2023 and, after the closing ofthe fiscal year, Euro 76 million on September 25, 2023.
However you cut it, they've continued to subsidise a loss-making business for many years.
Inter is a business that spends more money than it makes. Forget any accounting tricks or anything like that - this club spends more on delivering its goods, than its goods bring in. If we were a retailer, at the very least, we'd be selling $1 tins of beans for $1 and forgetting to cost in our overheads.
The rest of the Zhang stuff, ownership, china, etc is noise. Zhangs have continually injected money to keep this club afloat.
Simple as that, and its an objective fact. You can argue all day about whether you like them, they've been good for the club, etc - but the *FACT* that they've kept this club afloat the last few years because the club has spent more than it made, is a fact
10 years of FIF
Nostradamus
Most Passionate Member
Zhang had failed to repay the loan and Oaktree has immediately gone into action. The American fund will control the club while it looks for a buyer. Oaktree’s first move: delegate all actions to Beppe Marotta.
