Inter Milan 2025/26 Accounts: €22.7m Profit on €518m Revenue
Inter’s 2025/26 accounts show €518m revenue, a €22.7m profit and equity back in positive territory. Lower finance costs under Oaktree did the heavy lifting.
Inter Post Second Straight Profit as Oaktree's Refinancing Pays Off
F.C. Internazionale Milano's shareholders approved the accounts for the year to 30 June 2026 at an online meeting on Monday, as Goal reported. The board had already approved the draft in September, and the club's official statement set out the headline numbers: €518 million in revenue and a net profit of €22.7 million.
That revenue is the second-highest in the club's history. It sits below the €567 million record of 2024/25, which was inflated by the FIFA Club World Cup and a run to the Champions League final.
A weaker year on the pitch, a stronger one on paper
Europe was a disappointment. Inter went out of the Champions League in the play-off round against Bodø/Glimt, and Money.it notes that European income came in below forecast. Revenue held up anyway, supported by higher commercial and matchday income.
The cost side did the rest. Production costs fell by about €20 million, or 4%. The club also booked €11 million more from player trading, while amortisation and write-downs on player registrations dropped by €8 million.
The Oaktree effect
Inter has been owned by Oaktree Capital Management since May 2024. The fund never bid for the club. It lent €275 million to former owner Suning in 2021, and took control when that loan defaulted.
Since then the priority has been the balance sheet. Inter posted a €35 million profit in 2024/25, its first in years, according to Calcio e Finanza. The latest accounts take equity from minus €12 million to plus €10.4 million, a swing of more than €22 million in a single season. President Giuseppe Marotta told shareholders that Oaktree's arrival had sped up that work.
Next up: the stadium
Marotta also used the meeting to trail the design of Milan's new stadium, which he described as a strategic platform enabling Inter to increase revenue. Inter and AC Milan completed the purchase of San Siro and the surrounding land from the city in November 2025, with bank financing behind the deal.
The clubs have hired Foster + Partners and Manica to design the new ground and the wider masterplan. Matchday income is where Inter trails Europe's richest clubs most clearly, and an owned stadium is the main lever to close that gap.
Inter's accounts show a club that has learned to make money in an average European season. The next test is whether it can fund a new stadium without undoing the balance-sheet repair of the last two years.
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