Inter and Milan have successfully exited UEFA’s settlement agreement following improvements to their financial positions, the Organo di Controllo Finanziario dei Club confirmed on Tuesday. The decision comes after both clubs demonstrated a commitment to financial stability, a requirement for participation in European competitions.
The settlement agreement was initially entered into by Inter, Milan, Roma, and Juventus in the summer of 2022 following breaches of financial fair play regulations, exacerbated by the economic impact of the COVID-19 pandemic. The agreement aimed to guide clubs towards sustainable financial practices. Inter had accumulated deficits of 488 million euros between 2019-20 and 2021-22, while Milan’s totaled 357 million euros over the same period.
Inter has since reduced its losses, posting a profit of 35 million euros for the 2024-25 season, following losses of 85 million euros in 2022-23 and 36 million euros in 2023-24. Milan has also recorded three consecutive years of profit, with figures of 6 million euros in 2022-23, 4 million euros in 2023-24, and a projected 3 million euros for 2025-26. Both clubs met the intermediate financial objectives set by UEFA.
While exiting the settlement agreement provides greater financial flexibility, both Inter and Milan will still be required to adhere to UEFA’s “football earnings rule,” limiting losses to 60 million euros over a three-year period. They must also maintain a “squad cost ratio” – the cost of players’ salaries, amortization, and agent fees – below 70% of their revenue. The primary difference now is that Inter and Milan will not face automatic penalties or restrictions for minor financial breaches, offering more breathing room in transfer dealings.
Roma’s situation differs, having reported a loss of 238 million euros over the same three-year period. As a result, the club received a 2 million euro fine, plus an additional 4 million euro penalty for exceeding the “squad cost ratio.” Roma is required to generate significant player sales before the end of June to comply with UEFA regulations and will remain under the settlement agreement for the upcoming financial year. This will likely influence their activity in the transfer market.
