Inter Milan recorded the biggest loss in the history of Italian football. The Nerazzurri camp reported a loss of 245 million euros or around 4 trillion rupiah in its latest financial report for the 2020-2021 season on Thursday (30/9/2021).
The loss is more than twice what they experienced in the previous season, which was 102.4 million euros.
Meanwhile, revenue fell from 373.3 million euros to 364.7 million euros.
The Covid-19 pandemic is certainly one of the main causes with the club losing completely revenue from the stadium.
The report also highlights the austerity decisions the club had to make throughout the summer, including the release of Romelu Lukaku, Achraf Hamiki and coach Antonio Conte. The effects of these player sales will only appear in the 2021-2022 financial statements.
Not all Italian clubs have provided their financial reports but Calcio e Finanza noted that Inter Milan’s loss was the largest in the history of the Italian League .
The trio of Inter Milan, Juventus and Milan are estimated to have lost half a billion euros during 2020-2021 and more than 900 million euros in the last two seasons.
Inter Milan’s loss stands at the top of the Serie A red list , ahead of Juventus who reported a loss of 209.9 million euros also for last season.
Here are the top five biggest losses for Serie A clubs:
Club Season Nett Income*
Inter Milan 2020-2021 minus 245
Juventus 2020-2021 minus 209,9
Inter 2006-2007 minus 206
Roma 2019-2020 minus 204
AC Milan 2019-2020 minus 194,6
Note*: in million euros
As you can see, four of the top five on the list came in the era of the Covid-19 pandemic .
“The financial year 2020-2021 was significantly affected, over the duration of the season, by the consequences in the socio-economic context both in our country and globally by the Covid-19 pandemic and the measures required to secure public health and production activities,” the statement said. club.
Inter also stated that the club lost income not only from closing the stadium since the beginning of March but also reducing the value of sponsorship contracts because the pandemic did not allow them to fulfill their obligations to funders.
However, they also reminded that the pandemic season ended with the club’s 19th Scudetto and the first in 11 years.
Not only that, the club also has a new logo and visual identity.
The club also ensures the steps it has taken to date with the sale of key players and savings across multiple fronts will be reflected in better financial reports for the next financial year.
Moreover, the club’s success in winning Serie A made them get new sponsors.
“Our strategy is to focus on monitoring spending with a view to adapting to a changing business climate, but continuing to invest considerable resources in the evolution and growth of the club,” read a club statement.
“We have had important results on the pitch that have brought a significant increase to sponsorship value.”