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12. Internazionale

2012 revenue 2011 revenue 2011 position
€185.9m (£150.4m) €211.4m (£190.9m) 8

After enduring a difficult 2011/12 season both on and off the pitch, Internazionale have slipped out of the Money League top ten for the first time since 2001/02. Their sixth place finish in Serie A was the club’s lowest league position since 1998/99, and a lack of silverware, coupled with an earlier exit from the UEFA Champions League than in 2010/11, resulted in overall revenues declining by €25.5m (13%) to €185.9m (£150.4m).


Broadcast revenue of €112.4m (£90.9m) fell by €12m (10%) compared with 2010/11, but still represented over 60% of Inter’s overall revenue, the highest proportion of any Money League club. The club’s exit at the last-16 stage of the Champions League, compared with the quarter-final in the previous season, resulted in a €6.4m (17%) reduction in central distributions from UEFA, to €31.6m, and the worst league performance in over a decade resulted in lower domestic league broadcast distributions.

Matchday revenue decreased by €9.7m (29%) to €23.2m (£18.8m), less than 20% of the most successful Money League clubs’ income from this source, and just 12% of Inter’s total revenue. The Nerazzuri played two fewer home matches in 2011/12 than in 2010/11, and average home league match attendances fell by 16% to 44,577. This is very much in keeping with a wider trend in Italian football where investment in facilities and the matchday experiece is much needed. The benefits of stadium investment have been clearly demonstrated by Juventus. In August 2012, Inter announced that a group of Chinese investors had acquired a minority stake in the club, and that the China Railway Construction Corporation will build a new stadium for the club by 2017, which will help drive future matchday and commercial revenue growth.

Inter’s long-standing sponsorship deals with Nike and Pirelli continue to underpin commercial revenue of €50.3m (£40.7m), although this figure has reduced by €3.8m (7%) compared with 2010/11, when the club participated in the FIFA World Club Cup in Japan.

The Nerazzuri’s failure to qualify for the 2012/13 Champions League is likely to result in further reductions in revenue, meaning it will remain outside the Money League top ten in the near future. A return to success on the pitch is imperative if the club are to find their way back into the top ten, and the proposed new stadium will help Inter close the gap on their European rivals in the longer term.

Register The Deloitte Football Money League 2013 top 20 clubs

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