It's by no means an auspicious start to the new season for Italian powerhouse Inter Milan. The 19-time Serie A champions, who have since 2016 been owned by Chinese retail giants Suning Holdings Group, have lost three of their opening seven matches and are currently languishing in seventh place in the league table. 

Under head coach Simone Inzaghi, Inter are yet to deliver a convincing performance this term against a side of any real quality. They were utterly outplayed and outclassed by their arch-rivals AC Milan in the much-anticipated Derby della Madonnina. The absence of top-rated striker Romelu Lukaku, who netted 47 goals in two brilliant seasons, due to injury has further aggravated the problem of the team's underperformance. 

Amid all the gloom and doom, however, Inter finally announced some rare positive news off the pitch. According to a statement released on Wednesday, the embattled club reported $420.7 million in revenue for the 2021-22 season, up $71.8 million year-over-year.

Inter ended the financial year with a loss of $135 million, which the club claimed was due to COVID-19 restrictions still being in place for the first half of last campaign. It represents a significant reduction compared to the record $236 million loss it posted during the previous season. 

"The Majority Shareholder has already formally expressed his commitment to backing the group by ensuring asset support," read the statement. 

Inter also highlighted that it ended last season with two trophies – their eighth Coppa Italia and sixth Italian Super Cup – and finished second in Serie A, confirming that the team are "highly competitive at the top level." 

"The club's two primary objectives remain steadfast: maintaining the team's competitiveness at the highest level in every competition and strengthening its financial position," it added.

Last season, Suning injected a loan of around $71.8 million into the team to cover losses of the previous fiscal year, which Inter say was "largely affected by the social and economic consequences of the pandemic." 

Italian media outlet La Gazzetta dello Sport revealed on Wednesday that Inter president Zhang Kangyang, also known as Steven Zhang, will inject another 100 million euros ($96 million) into the club, signaling Suning's determination to ride the storm despite financial woes and rumors of a fire sale. 

Meanwhile, Inter, along with Milan, are one step closer to obtaining the full go-ahead for the demolition of city-owned San Siro stadium. The city's two footballing leviathans have drawn up plans for a new 60,000-capacity ground on the same site and a series of meetings about the new project started on Wednesday. 

Inter and Milan estimated that the new stadium will generate over 120 million euros in revenue annually, which will provide great relief to the current financial problems of both teams. An overall report will be presented to the city of Milan in mid-November after the meetings. Should it go ahead, the project is expected to be completed in 2030.