Inter Milan has officially released positive news regarding the club’s finances. The Serie A side posted revenues of $527 million for the 2023/24 financial year. This is an increase of about $53 million compared to the previous term. Rising revenues were also mixed with a significant decrease in overall debt. Inter’s debt fell during this period from around $96 million to $56 million.

According to a statement released by the club, the good financial news was influenced by Inter’s on-field performance last season. Led by manager Simone Inzaghi, I Nerazzurri easily controlled the Italian top flight throughout the 2023/24 campaign.

Inter not only collected their twentieth Serie A title, but they dominated the division. They eventually led the final table over their rivals AC Milan by 19 points. As a result, Inter began the current campaign with a second star above their badge. Only Juventus has more Serie A titles (36), than Inter.

American firm guides Inter Milan to record revenue

While 2023/24 ended up being a stellar year for Inter, it was not exactly an easy road to success. Chinese firm Suning Holdings Group previously purchased a majority stake in the club back in 2016. With the group at the helm, Inter experienced moderate success. This included collecting the 2020/21 Serie A title and two Coppa Italia trophies.

Nevertheless, Suning, like many other companies, endured financial strain during the COVID-19 pandemic. Because of this, the firm borrowed over $400 million from American firm Oaktree Capital Management. The U.S. company reportedly charged Suning 12% interest for the loan.

Suning, however, eventually defaulted on this loan in May of 2024. As a result, Oaktree became the new controlling owner of Inter at the time due to the terms of the deal. The takeover happened to occur just days before the 2023/24 officially ended. Oaktree now owns a massive 99.6% stake in the Italian club.

Oaktree injected additional $52 million into Inter this summer

Immediately following the triumphant campaign, the American firm provided Inter with $52 million in additional funding. A vast majority of this money was a direct cash injection. The remaining money was created using shareholder loans.

Under new ownership, Inter recorded a net spend of $63 million during the summer transfer market. Star Italy international midfielder Davide Frattesi was the club’s marquee signing after he joined from Sassuolo for around $32 million. The new ownership brought in Josep Martinez, Carlos Augusto, and Marko Arnautovic as well. However, Inter also signed two key players, Piotr Zielinski and Mehdi Taremi, as free agents.

Inter officials directly referenced their positive summer moves in the aforementioned statement regarding the future of the club. Not only is Oaktree happy with their recruitment, but they also pointed to added value in recent sponsorship deals.

This includes a club-record jersey partnership with Betsson Sport. It is Inter’s fourth different front-of-shirt sponsor in as many seasons. Oaktree also brought in cryptocurrency exchange platform Gate.io as a new sleeve sponsor as well.

So far this season, Inter has experienced a bit of a mixed bag of results. They currently sit sixth in the Serie A standings after a recent loss to AC Milan. Inter also managed to grab a draw on their travels against mighty Manchester City in Champions League play.

PHOTOS: IMAGO