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Soccer-Italy’s Inter Milan doubles full-year loss in 2020-21 By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO: Soccer Football – Champions League – Group D – Inter Milan v Real Madrid – San Siro, Milan, Italy – September 15, 2021 Inter Milan fans waving flags inside the stadium before the match REUTERS/Alessandro Garofalo

MILAN (Reuters) – Italy’s Inter Milan doubled its loss in the 2020-21 financial year ending in June, to 246 million euros, as the soccer club was hit hard by the coronavirus pandemic.

From 372 million in the prior year, revenues fell to 365m euros (422.82 million).

According to Thursday’s announcement, the club expects to decrease its financial loss this year because of the partial reopening and positive effects of player trading activities as well new international sponsorship contracts.

The club was controlled by Chinese retailer giant Suning and secured financing through Oaktree Capital Management funds in May to weather the outbreak of coronavirus.

($1 = 0.8633 euros)

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