MILAN - There was a novel approach to the press conference at Milan's Westin Palace following the Inter shareholders' meeting this morning. President Erick Thohir was joined by his management to answer the dozens of questions from the throng of media at the event. A number of matters were on the agenda.
FINANCIAL FAIR PLAY
Erick Thohir
"We need to respect the regulations set by Financial Fair Play. This is nothing new to me. We're familiar with situations like this and we have experience on the matter. Similar talking points have emerged in the US over the last three to four years for example. I believe FFP contains a positive message. It stops clubs from simply becoming playthings of certain individuals. That has already come to pass in other countries. The image of the cities involved is even under threat. All of that is important because Inter is a big Italian brand and it needs to be protected. We have to be more competitive with other clubs all over the world, not just in Italy. It takes time: we'll need two to three years to do all of that. We achieved good results last season and qualified for Europe. If we can now make the Champions League, why not? I'm utterly convinced that we have a good project and a solid team. Our project is not run on a year to year basis."
Michael Bolingbroke
"We're in favour of Financial Fair Play, it's a reasonable and rational idea. It will strengthen European football. And as a club we're in favour of it. We are finalising the club's five-year plan which will respect the limits set by FFP. We don't envisage the club losing money, absolutely not. The reason we met with UEFA was because in the past losses accumulated which saw us fall out of line with FFP. We were asked to go to Nyon to meet the committee and explain our future plans. We assured them that we would be willing to straighten out anything that had gone awry in the past. There are now regulations which don't allow us to run the club in the same way as the past. The next big date in the diary is 7 November when we will be audited and any claims we make about our five-year plan will be scrutinised. We will accept whatever they decide. We are making plans for the future. In general terms, transparency will be our approach. It's something which is very important and necessary."
STADIUM
Erick Thohir
"There are three important points to make with regards to the stadium: media, the commercial side and stadium revenue. I can't tell you any more at this stage. We have constant conversations about the matter inside the club. We will clarify our position between now and January. The stadium is a strategic structure for us, just as La Pinetina and the other training grounds are."
Marco Fassone
"The San Siro has three stakeholders: us, AC Milan and the City of Milan. We need a couple of months to make a final decision internally. You know what the options are. We need a few months and it will take time. What is for certain is that we will invest €22 million along with AC Milan - €11 million each - to refurbish the stadium ahead of the Champions League final. Significant renovation work will improve the Meazza in any case."
FINANCES AND MANAGEMENT
Michael Williamson
"The financial report you have in front of you only relates to FC Internazionale as a single company. As you know the club underwent a refinancing operation. That created another company called Inter Media & Communications. Of the €230 million raised in the refinancing operation, 200 million covered outstanding Inter and Inter Brand debts while the remaining 30 million is working capital. Refinancing and the creation of Inter Media & Communications allowed FC Internazionale to increase its value albeit the funds were used to eliminate debt in various areas of the organisation."
Michael Bolingbroke
"In running the club correctly we will consider costs in every area. Every area of the club will be checked. We will see how money is spent, just as people do in other areas of business. We will make sure that what we spend does not exceed our revenue as required by Financial Fair Play."
MAZZARRI
Piero Ausilio
"There are no clauses in Mazzarri's contract. It's a contract for two seasons that we've extended until 2016. There are some achievement-related bonuses in addition to the standard salary. By achievements we mean doing well in the Europa League and other targets we have in mind, like getting back into the Champions League. We started to see the way we want to move forward last night. After messing up two games we admitted our responsibilities. There are lots of players who came here on the back of the World Cup. That sort of thing can slow the team down from performing at its best. Despite having to contend with injuries and other difficulties yesterday, we pegged Napoli back into their own box and gave as good as we got in the second half. That's the way forward, that's what we expect from Mazzarri."
FINANCIAL FAIR PLAY / 2
Michael Bolingbroke
"I can say that one of the reasons we support FFP is that it means transparency for everyone. Inter wants to show transparency. We have a five-year plan we're going to share. As for what the other clubs do, that’s up to UEFA to decide. I'm glad UEFA is tackling the issue with transparency."
BACKGROUND
Erick Thohir
"I’m absolutely convinced of what we’ve done so far. I think we’re going in the right direction. Just as it’s clear by now the revenues aren’t coming only from TV rights, but also from the stadium and commercial aspects. There’s a timeframe coming that the management will have to deal with in order to accomplish what we have in mind. There are important agreements such as those regarding TV rights. The management wants to ensure that revenue increases. We have to act on these projects quickly. I agree when we talk about players; we have to be among the top 10 clubs in the world when it comes to the possibility of spending. If you think about what has been done in the last 11 months, this is what what we’ve done. We’ve changed many things. Since 2 January we’ve brought in new players. We made important purchases with Hernanes and D’Ambrosio. And we also bought players this summer. This club is actually spending money, and spending quite a bit. We’ve brought in more players to become more competitive. But we don’t just need to spend; we also have to increase revenue. And if we don’t have parity then they’re going to tell us we’re not in line with FFP. That’s why I’m very attentive and have so much respect for the work our management is doing. This will allow us to create a competitive team. In the next two years Italian clubs will be facing a difficult situation. We have to manage various aspects of the club. On one hand, as the management, we spend. But we also have to keep our targets in mind. Can any of you imagine if in January we were to have the same injuries that we have now? We risked a serious situation with two important players injured. However, we’ve brought balance to the team. We always pay a lot of attention so that people are a part of Inter, and if they’re not good enough they have to understand that Inter isn’t the place for them. Yesterday evening I talked about the difference between winners and losers. And yesterday we reacted, which is what we have to continue to do. There have only been seven games and I’m convinced by the good work done by the management and the team, and in the end we’ll see the positive results. As a leader and a guide I have to understand where I’ve made mistakes, should they happen, and I also have to point out where mistakes were made from a management standpoint. We make decisions collectively to decide what’s best for Inter. We need to come through this difficult situation and climb in the standings. In the end it’s important to have built a strong team, despite the difficulties. In the next two years a significant part of the Serie A will be facing a very difficult situation. At a team level, we have a five-year plan, but at the same time we’re part of a league that has other clubs we have to work with. In the Lega Calcio there has been an international openness, which is also thanks to exchanges I’ve had with other presidents. Football is one of the driving sectors of Italy. If the sport were to collapse in this country you can imagine what the repercussions would be, not only for the clubs, but also for the people and for those who work in football-related industries. We’re in a transition period that we, as Inter, have to face by working harder. But at the same time we have to collaborate with the entire Lega Calcio so that this change is understood. Can you imagine if the Serie A were to fall to the ninth best league in the world? I’m convinced there will be positive results in the long term."
MANAGEMENT
Erick Thohir
"It’s not my fault (smiles). It’s something that forms a part of this club’s history. Just think: Bonazzoli, Sciacca and Palazzi all play in the U19s. They’re Italian, they’re good players and they belong to Inter. It’s the same thing in regard to management. We must be competitive. Football is no longer merely a sporting industry. It also encompasses the media and consumer goods sectors. Therefore, both on the pitch and off of it, it’s important that we don’t just focus on football, football, football. Let’s take the stadium for example: that’s not just football. My daughter doesn’t read newspapers or watch the TV anymore. She’s always glued to her laptop; that’s what she’s used to now. The world is changing. In order to engage with our fans more, we need to look to a more digital approach. We’ve brought people into the club who are experienced in these matters – Williamson is someone I’ve been working with for three years and Bolingbroke has experience at one of the biggest clubs in the world. We’ve brought Claire Lewis in from Apple. The first time I met her, I asked her: “What would you leave Apple for?” She’s a big player. This is the plan; we have a digital media strategy. The idea is not just to reach Italian fans, but to engage with those fans that can’t come to the stadium. There will be fans that come to Italy just to watch Inter play. Near the stadium, we saw some Asian fans that had come to watch the match. Imagine having 250 million fans across the world. Now is the time to create the necessary channels to keep fans engaged. We must not have prejudices. We must create a strong team, and all of us at Inter are convinced that we are doing good work."
Michael Bolingbroke
"I think that the parallel Erick Thohir drew between players and non-players is very apt. Players are not chosen according to their nationality, and neither are club management staff. I want to have the best in the world. Perhaps they’re not Italian, perhaps they are. But they’re the best in the world from the biggest organisations. We’ve hired Dan Chard to work on sponsorships. He’s one of the best in the world and we’re fortunate to have him here with us. We also have Claire Lewis, a senior director from Apple. I don't think there are many people that doubt Apple is the best in the world. She does speak Italian, but that’s not essential. James White will focus on the Internet and social media, and will develop the commercial aspect alongside Claire Lewis. White used to be with Manchester United and is one of the best in the sector. He too speaks Italian."
PLAYERS
Erick Thohir
"It’s not just a question of marketing. When a player comes to Inter – when we bring new players in – of course we can’t bring in players who are not up to standard. Inter must have the best players. It’s a technical decision; we also evaluate a player’s positive characteristics."
Piero Ausilio
"I’ve been working with Thohir for a few months now and I can confirm what he has explained. Aside from looking at markets that can allow our brand to grow, I’ve never been asked to think about things outside of the technical remit. We look for players that will improve the technical quality of the Inter team. The important thing is that the player is right for our project. It’s very simple. Vidic is one example of this way of operating. I’m talking about him today. There can be no embarrassment or indecision. The Vidic transfer was a great operation on our part. He came on a free and is a player that will show his worth. I’m convinced that there are other deals in this ilk out there on the market. We pay great attention to what is going on in the world. You can’t become a strong team just by buying players for 20-30 million Euros. If we find players with great potential at good prices, I don’t see why we can’t do similar deals in the future."
PLAYERS / 2
Piero Ausilio
"We’ve decided that the squad must consist of 25-26 players. On top of that, you have players such as Bonazzoli. I don’t rule out the possibility of those players having opportunities as time goes on. We have an important match on Thursday, which could be a big step towards securing our passage to the next round. We’ve shown that we’re taking the Europa League seriously. It may well be the toughest match so far, as we do not have a full squad at the moment. We’re only in October, though. We can’t use having to play three matches a week as an excuse. We have experienced, quality players and I’m convinced that we’ll do well. We want to do the Europa League justice. I don’t think it’s easier to qualify for the Champions League by winning the Europa League. We want to get there as soon as possible; I think the team is well-equipped to compete at the highest level."
PIRELLI
Michael Bolingbroke
"In June we’ll celebrate 20 years of having Pirelli as our partner. It is the longest partnership in football history. For those of us at the club it’s impossible to imagine a world without Pirelli."
CHRISTMAS FRIENDLY
Marco Fassone
"The friendly still hasn’t been confirmed. But before everything else we want to be sure we can offer the team the best possible preparations for the match on 6 January. If all the conditions come together, we’ll confirm it. We’ll confirm everything within seven to ten days."
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20.10.2014 THOHIR'S SPEECH - INTER SHAREHOLDERS' MEETING
