Contract Renewal Talks To Resume At Inter Milan As Transfer Target Is Compared To Diego Milito
Written By Onyeka Daniel
In what should surely be an exciting news for fans around the world, the owners of Inter Milan, Suning are reportedly close to securing an agreement with US-based investment company, Oaktree Capital, that would keep them at the club’s helm.
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The Chinese group loaned €275 million from Oaktree back in May 2021, with the aim of using it to cover the club’s operational costs at the height of the Covid-19 era. Based on the initial agreement, Suning would have to repay the amount in addition to the interest before May 20th, 2024.
This sum has reportedly exceeded €350 million, but since the club owners aren’t willing to fork out this amount, they have been working on an alternative solution. According to La Gazzetta dello Sport, Suning and Oaktree are on the verge of finding a new agreement that would extend the deadline by another year, or two years at most. The deal could include a rise in the interest rate (currently set at 12%).
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This would allow Suning to catch their breath as the club’s finances continue to recover from the post-Covid blows. It might also give the two parties time to find a new buyer. Back in 2021, Inter’s balance sheets registered losses of €250 million.
While the numbers remain in the red, the Nerazzurri managed to lower the deficit to a figure between 40 and 50 million.This is mainly thanks to the club’s strategy revolving around low-cost signings while selling some of their stars for large figures.
Nevertheless, Giuseppe Marotta and his team still provided head coach Simone Inzaghi with a competitive squad.The club’s exploits in the Champions League (particularly last season) have been a major booster for the club’s finances.
This new agreement will restore serenity at the club, allowing the management to resume business as usual. Therefore, the Chinese group should remain at the club’s helm at least for another year or two, with Steven Zhang maintaining his post as Inter president. The club patron has been physically away from the club this season.
But remains heavily involved in managerial decisions, and this new agreement will signal the resumption of talks for some of their important players, according to the same source. Hence, the club will now resume contract extensions talks with Nicolo Barella and Lautaro Martinez.
While Alessandro Bastoni and that of Inzaghi will get off the ground. The management has been working on tying down the two top stars with long-term deals for quite some time now. Their current contracts are valid until 2026, but the Nerazzurri would like to push back the deadline to 2029.
The new deals will include a pay rise, but it wouldn’t contradict the two main principles set by the ownership. The first concept that the club is looking to apply is maintaining equity in the transfer market.
In other words, the Inter directors cannot spend on new signings more than they generate from player sales. As for the second principle, the club won’t have to lower the wage bill. This is thanks to the directors’ shrewd business in recent years which significantly lowered the amortization costs while heavily relying on free transfers.
Therefore, Inter do have room to offer Barella and Martinez improved deals. Inter will also turn their attention to the new stadium project. Their current options at the moment are building their own ground in Rozzano or embarking on a project to renovate San Siro along with AC Milan.
Meanwhile…
Genoa breakout star Albert Gudmundsson cherishes the comparison with legendary Inter striker Diego Milito.The 26-year-old has been one of the best revelations of the Serie A campaign. He has already scored 13 goals in Serie A and Coppa Italia.
The Icelandic star’s exploits have caught the attention of several suitors, and chief among them are the Nerazzurri. The Serie A leaders have reportedly identified Gudmundsson as their primary target to bolster the attack. But in the meantime, the player remains attached to Grifone.
“The club and the city are like family to me,” he said in his interview with Il Secolo XIX. They have always supported me throughout the good times and the bad ones. I will always be grateful and proud to play here.”
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The Iceland international tried to avoid questions regarding the transfer market. Nevertheless, he felt proud to match the record of Inter legend Milito who was the last player to hit double figures in back-to-back campaigns for Genoa.
“I continue to focus on every match ahead. I enjoy every moment on the pitch trying to entertain the fans too.“ With the goal scored at Monza. “I reached Diego Milito’s record, the last Genoa player to score double figures in two consecutive campaigns. So it’s always great to earn comparisons with a legend, especially a great striker like Milito.” He further added.
The Argentine left Genoa to join Inter in the summer of 2009. He led the line for Jose Mourinho’s treble winners, scoring the most important goals of the season, including a brace in the Champions League final. So it remains to be seen if Gudmundsson will follow Milito’s path by moving from Genoa to Inter in the summer.
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