October 13: Internazionale Milano shareholders have approved the club’s annual financial accounts which show a profit of €22.7 million, a second consecutive year of growth.
President and CEO Giuseppe Marotta, speaking at the club’s shareholders’ meeting, also detailed the current situation with the new San Siro project, which could further increase the club’s income once it is built.
The 2025/26 accounts closed with a profit of €22.7 million and revenue of €518 million, €49 million less than the previous year, but still the second highest turnover in Inter’s history. The record €567m for the 2024/25 season was boosted by the run to the Champions League final and income from the expanded FIFA Club World Cup.
Last season’s profit of 35.4 million euros had been Inter’s first in 15 years. The latest result makes it two in a row and, perhaps more significantly, moves equity back into positive territory by 10.4 million euros, down from 12 million euros less the previous year.
Operating expenses were down by around €20m, or 4%, while trading revenue was up 7%, helped by the Fanatics club merchandising deal. Player trading revenue increased by €11 million and player registration depreciation and impairment charges decreased by €8 million.
Finance costs have also been almost halved, falling by €19m following the refinancing completed last year with a lower cost of capital.
Marotta said the financial overhaul had picked up pace since Oaktree took control of Inter in May 2024.
“During a season which saw us win our third national double, off the field the Club experienced a season of financial consolidation. The financial restructuring effort has gained further momentum with the arrival of new owners, Oaktree. The financial statements submitted for your approval confirm the significant strengthening of the Club’s financial and equity position.
“Revenues again exceeded 500 million euros, the financial year closed with a net profit, financial expenses are lower than in previous accounts and, for the first time in a long time, equity has returned to the truth. Our commitment to balance sustainability with sporting competitiveness will not waver, because we are convinced that we are on the right track.”
Attention has already shifted to the new stadium that Inter is planning together with their Milanese rivals. The clubs completed the purchase of San Siro and the surrounding development area last November, with Foster + Partners and MANICA working on the new venue and masterplan.
Marotta said the designs would be unveiled shortly, describing the club-owned stadium as “a strategic platform that will allow Inter to increase revenue and close the gap with the best clubs in Europe.”
This gap is now the next obvious target. Inter have repaired a balance sheet that was very much in the red just a few years ago: the new stadium is where they hope to turn this recovery into another leap in the ability to win.
Contact the writer of this story, Harry Ewing, at (email protected)
