The Board of Directors of Inter has approved the draft budget for the 2025/26 fiscal year, certifying the second consecutive profit under the management of Oaktree. A result that, according to the Gazzetta dello Sport, takes on particular significance considering the context of the season.
Oaktree achieved 35.4 million euros in profits in 2024-25 and 22.7 million euros in the previous season. The early elimination from European competitions had in fact caused a contraction in revenues, which fell to 486 million compared to the record 546 million of the previous season, when the Champions League final and participation in the first expanded Club World Cup in history contributed to reaching historic figures for Italian football.
Despite the overall decline, some items recorded increases. Stadium revenues rose with the same number of matches played, as did television rights. Commercial revenues grew by 7%, driven by merchandising and the new business model implemented with Fanatics. Player trading revenues also increased, rising from 22 to 33 million euros.
On the cost side, the rationalization effort continued with an overall reduction of about 20 million, equal to 4%. Amortization and write-downs of players’ multi-year rights decreased by 8 million. The income statement also benefited from the halving of financial charges, which fell by 19 million thanks to the refinancing of debt under more favorable conditions: the new 350 million bond maturing in 2030 is both lower in amount than the previous one (415 million) and has lower rates (4.5% versus 6.75%).
The current economic balance is the result of the strict policy imposed since 2021, during the crisis of Suning, which exploded in 2024 with the missed loan repayment and the consequent takeover by the Californian fund. As the “rosea” points out, the 2025/26 budget figures are worth more than the previous ones because they demonstrate full control of the cost-revenue dynamic even in a season that was not exceptional on the European front.
CONTINUE READING