New York Times destroys Inter Milan: "Club full of debts"

The New York Times has brutally (but also justly) analyzed the financial and corporate health of the club

by Lorenzo Ciotti
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New York Times destroys Inter Milan: "Club full of debts"

Inter Milan were defeated by Pep Guardiola's Manchester City in the UEFA Champions League final, but the bad news for the Italian Nerazzurri club didn't end there! The New York Times has brutally (but also justly) analyzed the financial and corporate health of the club.

Here are the sensational accusations of the New York newspaper: "Inter are the most indebted club in Italy. According to the latest published financial statements, their total liabilities amount to approximately 931 million dollars.

In the last two years, for which information is available, it has recorded losses of almost $430 million. The Nerazzurri are in something of a financial crisis, due to the combined impact of the coronavirus pandemic, the decrease in Chinese state support for investment in European football and, above all, the problems of Suning, the giant owner of the club.

In 2021, the Suning group had to accept a $ 1.36 billion bailout, financed in part by the local government, to deal with spiraling debts. the same year he closed his Chinese club Jiangsu Suning permanently. The property secured a $294 million loan from Oaktree Capital, a California-based asset management firm."

New York Times destroys Inter Milan: "Club full of debts"

The loan expires in May 2023, writes the NY Times, stating that with interest, the total amount to be repaid is around $375 million and outlining a scenario that should lead to the club being sold.

In the last two years, according to what the NYT writes, the losses have grown conspicuously for Inter, which went down by over 400 million and which for this reason was also fined for violating financial Fair Play and which risks a very heavy fine (26 million euros) if he fails to repay the debt.

The Milanese company was involved in a huge financial crisis which was the result of the pandemic, but also of the problems relating to the Suning group, which saw its debts increase and which for this reason also closed with football in China.

Inter president Steven Zhang was held liable for $255 million in defaulted debts and obligations by a Hong Kong court last year. The American newspaper wrote: "Inter are a team that creaks, struggles, pushes to the limit of their abilities, an avatar for a sort of patched up and made-up team, a club held together, these days, for little more than What bandages and hope. Pride doesn't pay the bills."

New York Inter
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