December 1 – Inter Milan have reported losses of €102.4 million for the 2019/20 financial year, that covers the suspension of the season in March when the covid pandemic hit.
In a set of results that had been delayed in their reporting from June, the club said that revenues dropped €45 million to €372.4 million compared to the previous year with the loss of all matchday revenues being the core reason.
The club said it had refunded advance tickets that had been bought and portions of season ticket money for games missed. They did receive some insurance cover for these refunds.
The club said that it had carried €51 million of TV rights and sponsorship revenues, into the 2020/21 financial year (the previous financial year ended in June though the season didn’t), but net of these deferred revenues, income for the first quarter was still €59 million down at €46 million, compared with €105.2 million for the previous year.
The Chinese-owned club did point to a 72% increase in users on its digital platforms and an 11% increase in fans on these platforms to 428 million.
“In a situation of significant economic downturn, we have been able to consolidate Inter’s growth plans, which rest on the creation of a global brand and are based around an innovative business vision whose main target audience is younger generations,” said Inter president Steven Zhang.
“Our commitment for the future is – as always – to guarantee the sustainability of the club and ensure improved results on the pitch.”
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