Steven Zhang gave a long speech to the Inter shareholders today, where he discussed the club’s financial situation and their goals moving forward. Here are three key points.
The Nerazzurri’s recently released financial statements look positive, showing a reduction of losses of around €140m and an increase in revenues of around €75m compared to last year. Whilst Inter missed out on the Scudetto by two points to intercity rivals Milan, they did win the Coppa Italia, beating Juventus in the final.
Zhang’s speech to the shareholders shed light on Suning’s goals for the club, their financial situation and the plan moving forward. Here are the key points.
1 – The post-COVID recovery
A key part of Zhang’s speech was his references to the recently released financial statements, confirming a growth in revenues and reduction in losses. The COVID pandemic majorly impacted the economic situations of football clubs around the world and they are still feeling the ramifications of this, something Zhang touched on today.
In his speech, he highlighted how last year “was the first season in which there were signs of recovery after the disruption caused by the COVID pandemic”, a positive step for the club. Suning are now looking for a minority partner and are also searching for a new main shirt sponsor.
2 – From football to culture
Zhang’s speech also made it clear that Suning see Inter as more than just a football club, but a brand as well. They are looking at the wider picture and are constantly searching to expand, something the Nerazzurri president commented on when he referred to “the evolution of Inter from a footballing icon to a cultural icon.”
The Inter president spoke about the partnerships with fashion and design brands, the change of the club’s badge and how this work “is a key lever through which revenue can be increased.”
3 – In for the long haul
Zhang concluded his speech by commenting on the rumours surrounding the future of Inter and a possible sale. He made it clear that Inter are not for sale, highlighting how Suning’s “commitment is long term” and stating that “the club’s future has never been in question.”
Inter are currently searching for a new minority partner but are seemingly not looking to sell the club for the time being, adding some stability to the situation after a difficult few years financially.