How Onana Helped Save Inter Milan from Bankruptcy

How Man Utd goalkeeper Andre Onana helped save Inter from bankruptcy after vital transfer last summer.

Inter is dealing with deep financial issues but bought more time with the funds recouped from the sale of Andre Onana to Manchester United.

Onana and Brozovic sale kept Inter afloat
Club could have declared bankruptcy
Parent company’s negative valuation hurting debt

Onana and Brozovic sale kept Inter afloat

As per Il Giornale, the Nerazzurri were looking at going into bankruptcy over the summer if they hadn’t made sales leading into this season.

The report suggests that the Cameroonian goalkeeper’s sale to the Premier League giants and Marcelo Brozovic’s move to Al-Nassr in Saudi Arabia helped the Italians recoup funds that have kept them overboard for the time being.

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Last season, Inter won the Coppa Italia, placed in the top four of Serie A, and advanced to the Champions League final, where they were defeated by Manchester City. Despite these successes, the club’s finances and survival are still in jeopardy.

Club could have declared bankruptcy

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The Framework

The blue and black side of Milan made a loss of €85 million (£74m/$95m), down from €140m (£122m/$155m) in 2022 and a record-breaking €246m (£213m/$272m) in 2021.

This was achieved despite an 11.8 per cent cost-cutting measure, while revenues fell by -3.2%. The drop in revenue was caused by the fact that they did not have a primary sponsor on their jersey throughout the previous season.

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However, in the Champions League final, they had Paramount on the front of the jersey, which brought in €4m (£3.5m/$4.5m).

Parent company’s negative valuation hurting debt

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Inter’s debt has decreased to €807m (£701m/$893m) from €881m (£765m/$975m) the previous year with the club’s parent company reporting a negative net worth of €162m (£141m/$179m), which indicates their assets cannot cover their liabilities.

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Inter Milan Next Steps

The Italian giants face a significant threat to their existence, and a takeover could very well follow soon if the current owners, Suning Group, do not figure out refinancing options for the club.

There had earlier been reports of a potential Arab takeover of the club, but no communication was made official.