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In 2013, Indonesian business tycoon Erick Thohir acquired a 70 percent share in the famous Italian football club Inter Milan. The previous owner, Massimo Moratti, retained the remaining share, marking Thohir as the first Indonesian businessman to buy a leading European team and only the second foreign owner of a top Italian club. Thohir, a sports fan and former head of the Indonesian basketball association, had previously invested in U.S. sports by purchasing shares in the Philadelphia 76ers in 2011 and D.C. United in 2012.

At the time of Thohir's acquisition, Inter Milan had an estimated enterprise value of around €375 million but was heavily in debt. The club had experienced significant success between 2006 and 2010, winning five Italian championships and the Champions League in 2010. However, by 2013, the team's performance had declined, finishing fifth in Italy’s premier league (Serie A) from 2011 to 2013, disappointing fans and revealing a critical need for change.

The club culture at Inter Milan was predominantly Italo-centric, focusing on Italian players and management. The Italian hardcore football fans, known as "ultras," were infamous for their xenophobia, racism, and violence, which posed additional challenges for Thohir. In 2013, Inter Milan's revenues dropped to €169 million, placing them fifteenth in the Football Money League produced by Deloitte, highlighting the struggles within the Serie A league, which had a reputation for corruption and a lack of overseas investment.

Inter Milan was one of six teams investigated by UEFA for breaches of "financial fair play" rules, underscoring the financial peril the club faced. Responding to these challenges, Thohir intended to transform the club by adopting a more business-oriented approach, akin to the U.S. sports model, which integrated revenue from various sources such as advertising, media, and merchandise sales.

Thohir sought to elevate Inter Milan to one of the world’s top ten revenue-generating clubs, requiring a significant overhaul of the club's organizational culture and financial structure. He aimed to recruit experienced British and American executives from the media and sports sectors, appointing Michael Bolingbroke—previously chief operating officer at Manchester United—as the new chief executive. Other high-profile recruits included a marketing director from Apple iTunes, a head of global partnership from the U.S. sports and entertainment group AEG, and a chief financial officer from D.C. United.

With a staggering 280 million fans globally, of which 60% were based in Asia, including 18 million in Indonesia alone, Thohir recognized a significant opportunity in expanding the Inter Milan brand in Asian markets. The plan included increasing merchandise sales, securing country-based sponsorship deals, and generating additional revenue from close-season tours. During this transition, Thohir faced scrutiny from fans and the Italian sporting media regarding player acquisitions, such as signing veteran defender Nemanja Vidic' from Manchester United in 2014. The rationale behind this decision was not only on-field performance but also the potential marketing appeal to Asian audiences, emphasizing the dual objectives of competitive success and brand development.

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The acquisition of Inter Milan by Erick Thohir marked a significant moment in the history of football ownership, showcasing the increasing globalization of the sport and the growing influence of non-European investors in major European leagues. Thohir’s approach to revitalizing the club through a business-oriented strategy reflects broader trends in the sporting world, where financial sustainability and brand management are paramount.

Thohir's strategy is rooted in understanding the complexities of the football business model. By employing executives with experience in the U.S. sports industry, he aimed to introduce a fresh perspective that emphasized profitability alongside competitive success. This shift is essential for clubs operating in today’s market, where media rights, merchandise sales, and global branding often dictate financial outcomes more so than performance alone.

The challenges faced by Inter Milan, including its substantial debt and poor performance, are not unique. Many clubs in the Serie A have grappled with similar issues, often linked to mismanagement and an aging fan engagement strategy. Thohir's recognition of the need for cultural change within the club was a critical step in addressing these challenges, as he sought to bridge the gap between traditional football values and modern business practices.

Fan engagement is another crucial aspect of Thohir’s strategy. By targeting the Asian market, particularly in Indonesia where the fan base is passionate yet underserved, Inter Milan can increase its merchandise sales and enhance global visibility. This aligns with broader marketing practices in sports, which now rely heavily on digital engagement and social media outreach to cultivate and maintain fan relationships.

The recruitment of high-profile executives was a deliberate move to infuse Inter Milan with innovative ideas and strategies. For instance, Bolingbroke’s experience at Manchester United provided invaluable insights into maximizing revenue streams. Similarly, bringing in professionals from technology-driven companies like Apple reflects a commitment to evolving the club’s marketing approach, ensuring that it resonates with a more technologically savvy audience.

Moreover, Inter Milan’s connection with local fans can be enhanced through tours and promotional events in Asia, further cementing their presence in the region. Successful execution of this strategy requires careful planning and an understanding of regional market dynamics, particularly consumer behavior and preferences. Engaging fans in a language and context they understand is vital for building a strong and sustainable brand presence.

Thohir’s comments regarding the pressures of ownership highlight the reality of stockholder expectations in sports management. The analogy of "standing on top of the hill" in the face of challenging winds captures the tension between ambitious goals and practical realities. Balancing competitive performance with meaningful financial growth will be an ongoing trial for Thohir and his management team as they strive to restore Inter Milan’s status within football.

In summary, Erick Thohir's acquisition of Inter Milan serves as a case study in the globalization of sports ownership and the challenges of aligning traditional sporting culture with modern business practices. By leveraging his unique insights and strategies, Thohir aims not only to rescue a storied football club from decline but also to reimagine its role within the rapidly changing landscape of global football.

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