Italian giants, Inter Milan, are planning to secure financial aid to boost the purse of the club.
Inter CFO Tim Williams confirmed that Nerazzurri’s wage bill is slightly higher than the club.
Williams is still operating despite handing his resignation as Inter’s CFO in January.
He spoke to investors for InterMedia and Communications and his statement were reported by Calcio e Finanza.
“Like many other clubs, both in Italy and across Europe, we have reached agreements with some counterparts to postpone payments as part of efforts to manage our working capital,” Williams said.
“However, I repeat, it all happened with the full consent of all parties involved,” he continued.
The club’s CFO confirmed Suning is in talks to get financial aid or sell a majority stake in the club.
“Although Suning has confirmed its commitment to financially support the club, with or without additional external support, it is also reasonable and prudent to look outward,” Williams claimed.
“With this in mind, Suning has appointed key consultants in Asia to work with them to find suitable partners, whether it’s an equity injection or something else. Discussions with the main potential partners in this respect are ongoing.
“With the significant challenges faced this year, Inter remain in a strong position to fight for the title this year, and off the field, the club and our property have taken significant steps to ensure the future of the club.
“We are still playing behind closed doors and, like many top European clubs, we continue to face the continuing challenges due to the COVID pandemic.
“At this stage, we cannot say when fans will return to stadiums, but we hope that the end of this difficult period is not too far away.
“The closures of stadiums have had a clear impact on the loss of ticket revenues which could affect big clubs more than small clubs.
“The impact of the pandemic is also seen in the depression of the entire economic sector.
“When normally we could take the opportunity to reduce the wage bill and generate additional money through the sale of players, this year the situation has made it all more difficult.
“And although we have been able to strengthen the team with free transfers and loans, the wage bill is probably higher than we would like.”