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Italy's Inter Milan doubles full-year loss in 2020-21

Italy's Inter Milan doubles full-year loss in 2020-21

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: 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.

Revenues edged down to 365 million euros (US$422.82 million) from 372 million the previous year.

The club said on Thursday it expected to reduce its loss in the current financial year thanks to the partial reopening of stadiums, the positive impact of player trading activity and new important global sponsorship contracts.

Controlled by Chinese retail giant Suning, the club secured a deal to get financing from funds managed by Oaktree Capital Management in May, to help weather the coronavirus pandemic storm.

Source: Reuters

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