Serie A: Inter Milan restructure its debt after a net loss of €103m in 2013-14

FC Internationale Milano (Serie A TIM) posted a record net loss of €103m at the end of the 2013-14 season, said Erick Thohir, the Indonesian majority owner and president of the club, on 20/10/2014. This brings the cumulative net loss of the club to €276m since 2011-12.

The financial statements released on 30/06/2014 reveal an agreement to restructure the debt of the club reached between Inter Media and Communication SRL (the private limited liability company owned by Erick Thohir and holds the intellectual property rights, media rights and sponsorship rights of the club) and Goldman Sachs and Unicredit banks, for a total of €230 million. The total debt of Inter Milan amounted to €432.9m on 30/06/2013, with 81.6% (€353.1m) in short term debt. Inter Milan must repay €1m before 30/06/2015 and €45m between 30/09/2015 and 31/03/2019, and finally €184m before 30/06/2019.

€200m to refinance debt and €30m in operating expenses

• The restructuring agreement provides for a €230m credit line, with €200m to refinance existing debt and €30m for the operating expenses of Inter Milan.
  
  • €14m of…