Latest news with #recordRevenues
Yahoo
28-06-2025
- Business
- Yahoo
Record Revenues Take Inter Milan On Course For Net Profit In 2024-25 Financial Year – 2021 Crisis A Distant Memories As Debt Payments Slashed
Record Revenues Take Inter Milan On Course For Net Profit In 2024-25 Financial Year – 2021 Crisis A Distant Memories As Debt Payments Slashed Inter Milan are on course to record a net profit in the 2024-25 financial year, with record revenues and lower debt payments. This according to today's print edition of Milan-based newspaper Gazzetta dello Sport, via FCInterNews. They note that the financial crisis of 2021 now seems like a distant memory for the Nerazzurri. Advertisement It is not exactly a big secret that Inter Milan hit a turbulent patch financially in the last decade. In the aftermath of the financial shock of the COVID-19 pandemic and lockdown, the Nerazzurri suffered gargantuan losses. This culminated in a brutal summer of 2021. That transfer window saw Inter offload key players in their Serie A title win like Achraf Hakimi and Romelu Lukaku for massive transfer fees. Over the course of the last few years, though, Inter have gradually improved the situation. There have been hardships in the transfer market, with Inter not able to spend without selling. Furthermore, the club have slashed their wage bill year on year since 2021. Advertisement However, in the meantime, Inter's revenues have also climbed year on year. That has culminated in record revenues for the financial year ending in a couple of days. This owes a lot to Inter's run to the Champions League final, as well as participation in the highly lucrative Club World Cup. Inter Milan To Record Profit In 2024-25 Financial Year MILAN, ITALY – MAY 22: (L-R) CEO Corporate FC Internazionale he is. He was. It is. It was. She is. She was. Alessandro Antonello, Oaktree's Global Opportunities strategy Managing Director Katherine Ralph, Managing Director and Co-Head of Europe for Oaktree's Global Opportunities strategy Alejandro Cano, CEO Sport FC Internazionale Giuseppe Marotta attend a meeting between FC Internazionale new owners Oaktree and Club's Management on May 22, 2024 in Milan, Italy. (Photo by Guido) According to the Gazzetta, all of this means that Inter Milan are on course to finally record a profit for the 2024-25 financial year. In past financial years, reductions in losses were considered a success for Inter. However, the club have managed to navigate past that phase. Therefore, they should be in the black in their next set of accounts. Advertisement Meanwhile, the Gazzetta notes, Nerazzurri owners Oaktree Capital have also refinanced the club's bond. The Gazzetta detail how Oaktree have largely accomplished this by issuing a new €350 million bond. This is with institutional investors from North America. As the Gazzetta note, this new bond is rated at 'investment grade' rather than 'junk bond.' Furthermore, the new bond has a much more favourable interest rate. It has fallen from 6.75% to 4.5%. The upshot of this means that the annual payments that Inter will make servicing the interest from their bond have fallen significantly. From €29 million annually, the payments have dropped by €13 million to €16 million.
Bloomberg
15-06-2025
- Sport
- Bloomberg
Japan's National Sport Wrestles With a Generational Change
Like a wrestler entering the ring, sumo is straddling the brink of a new era. Japan's national sport seems more popular than ever. Attendance has bounced back from the pandemic; all 90 days of bouts in 2024 were sold out. The Japan Sumo Association, which oversees the sport, is enjoying record revenues. This autumn, it will hold a tournament in London 's Royal Albert Hall, the first outside Japan in 20 years.
