Inter waiting for sponsors payments

Inter Media and Communications have announced that the Nerazzurri’s income from sponsorship and television rights increased by 25.7%, but the club is yet to receive over €50m from international sponsors.

Inter Media and Communications, the manager and operator of the media, broadcast and sponsorship business of Inter, have released the financial report for the primary six months of 2020-21.

“Our Adjusted Revenue increased by €41.3 million or 25.7% to €202.3 million,” the statement reads.

“Single components of YTD December 2020 Adjusted Revenue are significantly suffering from an accounting deferral resulting from the shift of the top of the 2019/2020 sporting season and of the start of the 2020/2021 sporting season.

“On a pro-forma basis (and comparable basis), the rise of our Adjusted Revenue amounts to €3.2 million or 2.0% (with pro-forma Adjusted Revenue amounting to € 164.2 million), with all the only components of Sponsorship and Media Rights overall in line with an equivalent quarter of prior financial year and therefore the increase driven by higher UCL Media Rights.

“Sponsorship Revenue increased by €13.9 million or 36.3% to €52.2 million for the six months ended New Year’s Eve , 2020 from €38.3 million for the six months ended New Year’s Eve , 2019, while, on a pro-forma basis, they’re in line with prior period, with alittle decrease of €0.6 million (or 1.5%) to €37.7 million.”

Inter, however, still got to receive about €55m from international sponsorships.

“The collection size and timing of trade receivables under the International Sponsorship contracts: within the six months ended New Year’s Eve , 2020 related receivables remained stable, while in within the six months ended New Year’s Eve , 2019 they decreased by €22.8 million,” the club explained.

“The resulting negative impact of €22.8 million mainly relates to the very fact that within the six months ended New Year’s Eve , 2019, we collected an amount of €40.6 million associated with outstanding receivables from prior year, while within the six months ended New Year’s Eve , 2020, collections amounted to €18.0 million o the overall impact on the timing of collection of trade receivables resulting from the pandemic and therefore the consequent shift of the 2019-2020 and 2020-2021 sporting seasons.”

“In the amount July 1st, 2016 – December 31st, 2020, we booked cumulative revenues of €305.9 million, collecting, to date, €250.2 million (82%), of which €18.0 million has been received since Dominion Day , 2020.

“With regards to amounts remaining outstanding/overdue, we are in regular contact with the counterparties.”

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