Inter Milan Not Interested in Frattesi for Chiesa Swap: New Ownership Brings Stringent Policies and Significant Benefits

Inter Milan has been the subject of numerous transfer rumors recently, many of which have been debunked by well-connected transfer market experts like Fabrizio Romano and Tancredi Palmeri. For instance, Arsenal’s defender Jakub Kiwior, recently highlighted by La Gazzetta dello Sport as a potential target for Inter’s defensive reinforcement, is reportedly not in negotiations with the club. Romano stated there are no talks currently, while Palmeri outright dismissed Kiwior as a target, indicating that Inter is considering other options.

Similarly, another hot topic in the Italian media has been the supposed swap deal involving Inter’s Davide Frattesi and Juventus’ Federico Chiesa. Palmeri has also denied these rumors. Although Chiesa’s contract renewal has caused some turbulence and Frattesi might feel sidelined in Inter’s deep midfield lineup, Palmeri asserts that there is no basis for such a swap deal. “What are the chances of seeing Chiesa in an Inter shirt this season? Very slim, almost zero,” Palmeri said on a program. “Juventus might find a solution regarding him eventually. Starting a conflict at this stage benefits no one, and Inter currently doesn’t have room for Chiesa. If Chiesa and Juventus’ conflict becomes irreconcilable, I’m sure Inter would try to sign him on a free transfer, but I believe they will find a resolution. Regardless, a Frattesi-Chiesa swap is highly unlikely.”

Last season, Frattesi only managed 955 minutes of league play, scoring six goals and providing three assists. His performance, though limited in playing time, was impressive, and his desire for more minutes is understandable. However, predicting that he would leave Inter over this issue, especially to join their rivals Juventus, seems premature. The new season is long, and numerous factors—such as injuries, increased rotation by the coach, or the player’s development in different aspects of his game—could come into play. Moreover, from a technical standpoint, swapping a player for whom Inter paid over €40 million last season for a winger with just one year left on his contract doesn't align with CEO Beppe Marotta’s typical transfer strategies. If Chiesa were to join Inter, would he play as a second striker or a wing-back? Such a high-caliber player would undoubtedly expect to start, but where would he fit in the starting lineup? At least this year, the timing seems off. These considerations complicate the potential deal.

Palmeri also revealed that current coach Simone Inzaghi and Oak Tree Capital’s differing philosophies are affecting Inter’s defensive acquisition strategy: “Inzaghi wants a ready-to-play defender, like Ricardo Rodriguez. However, due to age-related concerns, this transfer is proving difficult, and Inter is evaluating other options. The coach and the financial backers are in a tug-of-war, with Oak Tree favoring a young prospect. It’s likely Oak Tree will win, and the coach will have to adapt.”

Since the California-based investment firm took over Inter, they have ostensibly followed a “hands-off” approach, but in reality, they have introduced two significant changes compared to Steven Zhang’s era. One change is the pursuit of “resale value” in players, a point on which Oak Tree is less flexible than Zhang. While Zhang also aimed for youth, he was willing to invest in experienced players if the coach insisted, as seen with the acquisitions of Francesco Acerbi and Marko Arnautović. However, convincing Oak Tree might prove more challenging.

Nonetheless, Oak Tree’s involvement has also brought a substantial benefit to Inter: improved cash flow stability. Financial expert Marco Bellinazzo noted, “The American fund’s acquisition ensures Inter won’t face liquidity issues, though everyone must still respect the balance between income and expenses.”

During Zhang’s era, due to insufficient cash flow, Inter often resorted to various strategies to extend payment schedules and minimize immediate cash outflows, avoiding liquidity shortages or even breakdowns. For example, they might pay €13-14 million for a player they could have acquired for €10 million to spread the payments over three to five years. Similarly, they might use a loan-to-buy arrangement with an upfront rental fee plus a subsequent purchase option, which, when combined, exceeded the player’s initial valuation of €15 million. This was a necessary compromise due to cash constraints.

Under Oak Tree Capital, Inter is expected to change this approach. Assuming financial balance is maintained, Inter will prioritize overall cost-effectiveness over merely delaying payments to preserve cash flow. This shift could help avoid the pitfalls of incurring higher total costs due to deferred payments. While this policy has its drawbacks, it also offers significant advantages.

The improved liquidity allows Inter to operate more strategically in the transfer market. They can now negotiate better deals without the urgency to stagger payments excessively. This financial flexibility also means they can afford to hold out for the right player rather than making compromises due to immediate cash needs. This strategic shift could result in more prudent and effective transfer dealings, ultimately strengthening the team.

Despite these changes, the financial discipline imposed by Oak Tree means Inter must still be mindful of their expenditures. They need to strike a balance between investing in talent and maintaining financial stability. This approach aligns with broader trends in European football, where financial sustainability is becoming increasingly crucial.

As for the rumors surrounding Frattesi and Chiesa, it seems unlikely that such a swap deal will materialize. Inter’s current strategy, influenced by Oak Tree’s financial policies, focuses on maintaining a balanced squad without making hasty or financially imprudent decisions. The club is keen on securing players who offer both immediate value and future potential, aligning with the long-term vision set by their new owners.

In summary, while the rumors about Inter Milan’s transfer activities continue to swirl, the reality is shaped by a combination of strategic planning, financial prudence, and the evolving dynamics within the club. The involvement of Oak Tree Capital has introduced a new era of financial stability and stringent policies, which, despite some challenges, could ultimately benefit Inter in their quest for sustained success.