Inter's Financial Situation

[brehme1989]

Players aren't stake holders, they don't get profit or bonuses outside their contract if the Inter does extremely well so why should they have to take salary cut?

Players are stakeholders, actually

 

[.h.]

Players aren't stake holders, they don't get profit or bonuses outside their contract if the Inter does extremely well so why should they have to take salary cut?

whilst I do broadly agree with this argument, lets not forget:

1 - our player's stance right now makes us risk going bankrupt
2 - many businesses have cut salaries, or even positions, over the last year

Contracts on players like Barella, Hakimi, Lautaro, Lukaku, etc, should still have minimum 3 years to run. Bastoni has 2 years, dunno about Skriniar.

You wanna hold to that contract? Fine, we'll hold you to your contract too.

 

[brehme1989]

You may not realize this, but the players have seen the owners as much as we the fans from all over the world have. That's unacceptable. They have no attachment to these guys and no reason to help them relieve any weight from their pockets. They've been abandoned for almost 10 months now.

It's not just about numbers.


Owners speak to the players for the first time in the season and it's like: Congrats for the long awaited title, can you please accept to not get paid now?

 

[F-C]

You may not realize this, but the players have seen the owners as much as we the fans from all over the world have. That's unacceptable. They have no attachment to these guys and no reason to help them relieve any weight from their pockets. They've been abandoned for almost 10 months now.

It's not just about numbers.


Owners speak to the players for the first time in the season and it's like: Congrats for the long awaited title, can you please accept to not get paid now?

You may not realize this, but so what?

1. Obviously, the owners have not been in Milano for months. If you haven't realized, there was a world wide travel restriction.
2. You're not an employee at Inter, so you are just speculating if there haven't been any Zoom meetings between the owners and employees.
3. So what if the owners haven't spoken with or met with the employees for months. That's why Suning pays people like Marotta to run the club.

Have you ever worked for a multinational company? I have for decades. Do you know how many times I've me the owners? Probably once every ten years. None of the employees care. So what, are the employees going to feel super special if they see the owners? Obviously not.

Seriously, this is why I avoid coming onto FIF even after lurking around for 15 years. The negativity on this site is just ridiculous. These guys delivered a scudetto, and all people want to focus on is the doom and gloom.

 

[CafeCordoba]

Yeah I agree with brehme here. The optics are just TERRIBLE with this one.

It doesn't go well with whet just happened. Steven comes back to the country right there to celebrate the Scudetto. He comes in, rides the success wave by waving the flag in Inter tower, getting praise everywhere, celebrates with the squad in Appiano. And then he asks to cut salaries, which have been paid late for almost the past year. Apparently they are getting paid their Jan-April salaries now in May. It's like he was not involved to the project in any way, denied money from the players but then appears immediately when there are success you can take part in.

So kind of get the absolute no to any cuts. Further deferring the payments should be okay though. They can manage and will be paid eventually all the money.

Edit. Comparing to multinational companies doesn't quite work in this one. Maybe if you compare players to some high level executives who are paid a lot in that company. Players and directors are of course not some random employees in multinational company. These guys are the ones which dictate if the company succeeds or fails. And specially in Italy, the owner and/president needs to be around. He needs to be involved, SPECIALLY if there are issues like financial ones which affect these "high level executives". The comparison was just off F-C.

 

[Pimpin]

The Shitter League would have started in 2024.
The projected revenue was never guaranteed.
It is filth and it is dead. Let it go

In April 2021, 12 clubs formally announced that they would be forming The Super League to start in August of the same year

The revenue would've been secured.

Players are stakeholders, actually

players are infrastructure

I think you're underestimating the risk that we have a fire sale or, potentially, fold in the next 24 months.

also this, people are not aware of the shit we are in, more than half of our revenue could go to shit. Our commercial revenue was all inflated from shitty chinese companies deals, we may risk the 15 m we get for the training ground, we have no shirt sponsor and we get no money from stadium. Basically we are running on tv deal rn and CHL money.

 

[rockball]

The club should give all our top players 0.1-0.2% holding of the club, with a buyout option and some clauses baked in. Let all own this fucking thing.

 

[RickyMaravilla'sRightFoot]

Yeah I agree with brehme here. The optics are just TERRIBLE with this one.

It doesn't go well with whet just happened. Steven comes back to the country right there to celebrate the Scudetto. He comes in, rides the success wave by waving the flag in Inter tower, getting praise everywhere, celebrates with the squad in Appiano. And then he asks to cut salaries, which have been paid late for almost the past year. Apparently they are getting paid their Jan-April salaries now in May. It's like he was not involved to the project in any way, denied money from the players but then appears immediately when there are success you can take part in.

So kind of get the absolute no to any cuts. Further deferring the payments should be okay though. They can manage and will be paid eventually all the money.

Edit. Comparing to multinational companies doesn't quite work in this one. Maybe if you compare players to some high level executives who are paid a lot in that company. Players and directors are of course not some random employees in multinational company. These guys are the ones which dictate if the company succeeds or fails. And specially in Italy, the owner and/president needs to be around. He needs to be involved, SPECIALLY if there are issues like financial ones which affect these "high level executives". The comparison was just off F-C.

This. Marotta, Ausilio, Conte, and boys were basically on their own enduring a media barrage of speculation for an entire season while Steven and his pops were doing god knows what in the PRC. We win a title and suddenly they want to put their face on it.

I give Suning credit for investing in the club, but they did fuck all this summer and this season. This scudetto belongs to the players and coaches more than anyone else.

They need to find a way to pay the players what they're owed and that's it. If they want to renegotiate contracts going forward than so be it, but a multibillion dollar company should be able to honor their existing commitments. And I say this as someone who works in the music industry and lost 85% of my income for almost a year (making way more modest wages than these players).

 

[CafeCordoba]

I'm like going back and fourth every other post who's the bad guy and who's not. But I think I'm leaning towards indeed the side that they should be paid (of course they should). Deferrals are okay IMO and fair given the situation of the company. If this club was a small club which is destroyed if it can't have stadium full of people, I would get that players should understand better. But this isn't such club. The club is owned by a company which makes billions a year which is owned by a man who is worth billions.

In the end players aren't responsible to manage the "project". If Zhangs can't manage the project and it gets thrown out (they need to sell players, Conte and Marotta might leave) that's on them, not on players. Renegotiating contracts is a bit hard as there are very different situations with each player. Also a lot of ending contracts which we do not want to continue so those players obviously do not want to leave anything on the table. There isn't anything for them which would make sense for them to do it. Core players might have the collective to see that we can all continue here if we cut our wages a bit but then again, every player is an individual with their own situations so it's just unfair to call them greedy bastards.

 

[.h.]

Juve and Roma both owned by much richer people than we are, without capital restrictions. Where's the outrage for them?

Milan are likely to be profitable next season if matchday revenue comes back.


Juve deferring salary massively, not even posted on reddit, yet Inter is all the outrage.

What a joke.

 

[brehme1989]

The club is probably also covered by the insurance for the pandemic, just like it was last season. So this doom talk is rather baseless.

I get that Suning is in deep shit and their main problem is not just liquidity, but having shit relations with the Chinese regime. If they were on good terms, they'd have a series of "Chinese investors" lined up in order to provide sponsorships and/or loans.

Leave the players out of these politics and if Suning isn't capable of running the club on their own, they know their options. Disrespecting players like this isn't the way.

Why didn't they say this in January? Or in March? Or last month? Why now?

(I am talking exclusively about cuts, not deferrals. Players have already agreed on multiple deferrals and they'll continue to do so)

 

[.h.]

Nope, the club isnt covered by the insurance. (as far as I can deduce from our financial statements)

We mitigated 10m of losses last season (matchday losses were 13m so I believe the policy only covered the first 10m claimable). Our financial statements make clear that for last year, we lost 13m of matchday revenue but insuranced covered 10, whereas this year we will lose 60m of matchday (estimated).

There's also no expected mitigation to our losses for matchday this season, so I suspect the policy covers 10m for any single event, where the whole Covid situation is one long continuous event.


Our players have had deferrals of payment which would be standard in any season anyway - thats why FIGC has standard rules about deferral of payment limits.

We're talking about deferral of liability.



I'll keep coming back to it.

Our financial report for last year was about -52m (my estimate) worse because of COVID. 47 of that money was deferred into FY 20/21 (factual, not estimated), so the pro-forma result would have been only -5m or so through COVID. The main impact of COVID is undoubtedly this year. [N.B. if COVID hadnt struck last year we'd sitll have lost circa 50mil]

If it wasnt for the deferred income from last year, we would be looking at a loss of circa 160-180m euros for this season.



And lets stress our financial situation. Getting to net 0 annually does NOT solve our problems. We still need to stump up like 250m in Dec 2022.

 

[Ottoman empire]

I knew that suning can no longer run this club at top level the moment those Chinese government restrictions on capital export were put into force and Jiangsu FC got liquidated, and I have been advocating for them to sell the club but no one seemed to care. It's very unfortunate that after finally ending suffering and on the cusp of building years of success and beauty that this shit came up, and due to this we are about to risk another decade of oblivion like the one we just got out of, it may be even worse than that. Suning have done well, and thanks for that but for the good of the club and their reputation, they should sell the club. We are not lacking suitors, if previous reports are anything to go buy, BC partners made an offer but suning rejected it. And I think a partial or minor percentage sale is not a good option coz it makes little difference as long as those restrictions are still existing even though fresh capital will be injected, why? because all those fresh capital will be injected into clearing debts, salary payments and other financial aspects and their will be nothing for investment into signing players, the sporting aspects will more or less stay the same or regress as years go on, therefore we will no longer be competitive. So please suning, gtfo!!.

As for those of you lamenting the players for not accepting wage cuts, don't forget that some reports have stated that the reason players are likely to refuse the wage cuts was because suning didn't propose any proper plan for the club's future and I think this is a very good reason, why should they accept wage cuts if this won't solve the club's short to long term future without any plan? The main solution to our financial issues is something else not this shits, the overall wage bill for those 2months according to reports is £25m while we have hundreds of millions in debts, so how does waving 25m solve an issue of hundreds of millions without any other proper plans. This was what happened to Jiangsu fc, and it is justifiable that players are in fear of this. Suning ought to have proposed a better plan on how they can overcome our financial issues while stating that wage cuts will contribute to the solution.

 

[CafeCordoba]

Juve and Roma both owned by much richer people than we are, without capital restrictions. Where's the outrage for them?

Milan are likely to be profitable next season if matchday revenue comes back.


Juve deferring salary massively, not even posted on reddit, yet Inter is all the outrage.

What a joke.

I'm not interested in Juve or Roma one bit. I don't quite get what your whataboutism argument is here. You mean the media outrage or what? I'm not concerned about the media, they write a lot of shit without knowing anything (CdS, GdS, Tuttosport, Corriere della Sera, calciomercato, you name it). Sole24Ore, La Repubblica and Calcio e Finanza are the go-to papers for the financial stuff, these papers do not write sensationalism stuff like the former mentioned ones.

 

[.h.]

the point is that you guys arae letting yourselves be manipulated by the media into this big frenzy of INTER DRAMA, BLAME THE OWNERS, etc, when its the exaact saame (or worse) situation elsewhere.



the intellectual prostituion is disgusting.

 

[CafeCordoba]

the point is that you guys arae letting yourselves be manipulated by the media into this big frenzy of INTER DRAMA, BLAME THE OWNERS, etc, when its the exaact saame (or worse) situation elsewhere.



the intellectual prostituion is disgusting.

No, I'm not getting manipulated by the media one bit. Where did you get that? I'm not having any drama.

Other clubs can cover the losses easily. Juve can just ask Exor to give another 300m€ capital injection (they won't, but the point is they could). Friedkins can do that for Roma, Elliot can that for Milan. It's not the same situation for us. Unless Zhang manages to find more loans somewhere to cover our deficits.

I think salary deferrals are the way to go here anyway.

 

[.h.]

My point was more about the fans who are like 'we have super rich owners they should cover it and honour their contracts!!!1111'

Juve deferring 4 months of salary, and if they dont make the CL they're gonna have to cut hard. Roma will have to plusvlaenza some serious parts of their squad this summer. Milan should be OK.

Yet there's only uproar about Inter, I odnt see it even mentioned for these other clubs.

 

[CafeCordoba]

Calcio e Finanza reports that Serie A will ask FIGC so that player salaries of last 4 months to be postponed.

Calcio e Finanza also reports that Serie A will ask AIC (players' union) to cut 2 months of players salaries.

This is getting interesting.

 

[.h.]

hopefully our players get their heads out of their assess and realise whats happening in the world.

 

[CafeCordoba]

At that point when it goes to that level, it's not about our players anymore. It's about the players generally.