In June, Inter did not make any capital gains, so the club’s balance sheet loss should be between 40 and 50 million. This is a small sign of Oaktree’s new direction. The US fund could have asked the management for some outgoing operations to avoid covering the deficit. But as highlighted by the Gazzetta dello Sport, the Californians have decided not to make any requests in this regard and will presumably have to make a capital injection in the autumn: 22 million were covered by the conversion of an old credit of Steven Zhang, but the postponed red must also be filled by exploiting a Covid rule.
The ownership horizon is medium-long term: there is no rush to chase the return on investment. But the principles of management aimed at sustainability, those are valid from the start. The big difference is the absence of shortness of breath for the club’s accounts: the maxi-loan of 275 million plus interest charged to the parent company was cancelled with the enforcement of the pledge: the creditor has become the shareholder. Now there remains the 415 million bond, whose maturity in 2027 offers all the time to evaluate what to do. Inter has no cash emergencies and the ownership, which boasts assets under management for 192 billion dollars, offers all the insurance in terms of possible support. An important aspect, this, also for the transfer campaign, where Beppe Marotta is moving on a dual track: maintaining high competitiveness, which means no sales of big names, and at the same time respect a balance between purchases and sales and, above all, continue to contain the “team cost”
Then there is the revenue chapter: for next season we are counting on the proceeds from the Club World Cup (with the doubt of whether to include them all in 2024-25 or half with 2025-26) and on the increased commercial revenues.: the new main sponsor Betsson will bring about twenty million more than last year. Consequently, the balance sheet at 30 June 2025 should confirm the trend of accounting rebalancing. Already in 2023-24, if there had not been heavy interests, the profit would have been close. The goal is to achieve it by 2026.
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