Italy Inter are on the verge of bankruptcy before selling Andre Onana to Man Utd and Marcelo Brozovic to Al Nassr in the summer transfer window of 2023.
Inter sold goalkeeper Onana to Man Utd for $58 million, in addition to the transfers of Andrea Pinamonti ($22 million), Brozovic ($20 million) and Robin Gosens ($16.6 million). In addition, Inter also let Milan Skriniar, Roberto Gagliardini, Danilo D'Ambrosio and Edin Dzeko go for free.
According to Il Giornale , before making these deals, Inter considered declaring bankruptcy. However, decisive action in the transfer market helped the three-time European Cup/Champions League winner escape.
Onana (in yellow) plays for Inter in the Champions League final against Man City 0-1 on June 10, in Istanbul, Turkey. Photo: Reuters
Last season, Inter won the Coppa Italia, the Supercoppa Italiana, finished third in Serie A and reached the Champions League final. However, their finances and survival remain in jeopardy. Inter is forecast to lose $95 million in 2023, down from a loss of $155 million in 2022 and a record $272 million in 2021. They are still losing money despite cutting costs by 11.8%, while revenue is down 3.2%.
One of the reasons why Inter is sinking into losses is that they cannot find a main sponsor for their shirts. By the Champions League final on June 10, they had only managed to collect 4.5 million from sponsor Paramount.
In 2022, Inter's debt fell from $975 million to $893 million. However, their parent company, Suning Holdings Group, reported a negative net worth of $179 million. This means that their assets cannot cover their debts and they are at risk of bankruptcy. Suning Holdings Group is one of the companies owned by Chinese billionaire Zhang Jindong.
Inter could still have to declare bankruptcy in the near future if Suning Holdings Group does not recapitalize. In the summer of 2023, Italian media reported that Middle Eastern giants were considering buying Inter, but there has been no official information.
Inter are top of Serie A this season, with 44 points from 17 games. They are four points ahead of second-placed Juventus and 11 points ahead of third-placed Milan. Inter are also through to the last 16 of the Champions League, where they will face Atletico Madrid.
Thanh Quy (according to Il Giornale )
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