SUMMARY
- Inter Milan CF is a prestigious soccer club known for its talented players.
- They faced bankruptcy due to distributing their board's salary, as reported by news outlets.
Inter Milan CF is one of the most decorated and historic clubs in soccer in Italy and in the world. Many great talents have played for Inter Milan which is known for producing great talents. This 2023-24 season, in addition to dominating their home league Serie A, the Serie A leaders have advanced to the Champions League knockout stage.
However, they have been dealt a huge financial blow leading to bankruptcy according to various news outlets. One of the major reasons this has happened is due to them distributing their yearly salary to the ten members of their board. The Italian media outlet “ilgiornale” alleged that Suning Group, the parent firm of the Italian giants and based in China, is having financial troubles.
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This is the cause why Ashraf Hakimi and Romelu Lukaku, two key players for Inter who helped the team win the title, had to go. Stephen Zhang, the son of Suning Group Chairman, is the current owner of Inter Milan. According to various reports, The Inter Group declared a negative net worth of $161.9 million as of June 30, 2023. Suning Group is having financial challenges as the Chinese economy continues to decline.
As this situation continues to worsen, many clubs will be on the hunt for the talented roster that the club boasts. Players like Lautaro Martinez and Nico Barella will be touted to leave if their salary demands are unmet. It remains to be seen what happens next with Inter Milan in the coming weeks/months.
Two-player sales that have allowed Inter Milan to continue business in 2023-24
Inter Milan has serious financial problems and, should they persist, an uncertain future; nonetheless, money recovered from the sales of two players has given them extra time. Last season, Inter won the Coppa Italia, placed in the top four of Italian Serie A, and advanced to the UEFA Champions League final, where Manchester City defeated them.
Inter Milan is reportedly facing severe financial challenges, with the potential for bankruptcy looming. The sale of players such as Brozovic and Onana is seen as crucial for the club’s business continuity in the 2023-24 season.
Then, they reject The Super League pic.twitter.com/x05F5TZQNw
— LeoAlexis (@ColemanDavidLe1) December 28, 2023
Notwithstanding these successes, the club’s finances and survival are still in jeopardy. Last season’s player sales, especially those of Marcelo Brozovic and Andre Onana, helped to keep the team viable. After acquiring Onana for free from Ajax, the Nerazzurri sold him to the Red Devils for €55 million ($60.8 million), according to BBC Sports. For €17.5 million ($19.3 million), they sold the Croatian midfielder to Saudi Pro League side Al-Nassr.
The club was in danger of going bankrupt, according to an analysis published by the Italian publication Il Giornale, but the €72.5 million ($80.2 million) received from selling Onana and Brozovic soothed fans’ concerns and guaranteed the team’s survival. It remains to be seen what happens to the club as fans will be hoping for a quick resolution amid financial concerns.