Inter Milan Set Board Of Directors Meeting To Approve 2023-24 Balance Sheet This Month – Financial Situation Showing Clear Improvements | OneFootball

Inter Milan have set a board of directors meeting for later this month to approve their 2023-24 balance sheet.

Today’s print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews, report that the meeting will be on the 28th of October at 14.30 CET. The club will confirm significant financial improvements.

If there has been a theme to Inter’s financial situation in recent years it has been crisis followed by improvements.

The Nerazzurri found themselves in dire straits following the shock of the COVID-19 pandemic and lockdown.

This resulted in huge losses during the fiscal years following the start of the pandemic.

In the spring of 2021, former Inter owners Suning took out a massive loan from US fund Oaktree Capital. This was to cover operating expenses at the Nerazzurri during the worst of the financial crisis.

Then, this May, Oaktree took over Inter. This followed Suning defaulting on their debts to the US fund.

Suning had been gradually improving Inter’s financial situation in the last few years.

However, the former owners were not able to pay back their debt to Oaktree.

Inter Milan To Hold Board Meeting October 28th To Confirm 2023-24 Balance Sheet

Inter’s current owners Oaktree have certainly aimed to keep the club on the same path they had been in their last few years under Suning.

Inter have reduced their losses year on year after the nadir of 2021.

And by all accounts Oaktree are looking to not just further reduce losses, but eliminate them altogether.

It remains to be seen whether Inter will already manage this in the fiscal year ending next June.

But what looks certain is that in the fiscal year ending in June of this year – the final one for Suning at the helm – the trend has been very positive.

From losses of €85 million in the 2022-23 fiscal year, the Nerazzurri’s losses dropped to €36 million.

On the 28th of this month, Inter’s board of directors will meet via teleconference.

The purpose of the meeting will be to confirm the set of accounts with this reduction in losses.