Inter announce losses of over €103 million

Date: 21st October 2014 at 11:00am
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Inter shareholders met on Monday to discuss issues over the club’s debt in light of Financial Fair Play rules.

A meeting with UEFA has been planned in which Erick Thohir’s five-year plan for the club will be scrutinised by Europe’s top footballing body.

News agency ANSA report that the Nerazzurri saw their losses increase to €103 million during the 2013/14 season.

The club’s chief financial officer Michael Williamson outlined some of the issues at a press conference after the meeting.

“As you know the club underwent a refinancing operation,” he explained, “That created another company called Inter Media & Communications.

“Of the €230m raised in the refinancing operation, €200m covered outstanding Inter and Inter Brand debts, while €30m is working capital.”

Under Erick Thohir, the Nerazzurri have been looking to cut costs and reduce debt in order to comply with UEFA’s strict FFP regulations.

 

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