Inter and 11 Ticking Bombs: Baccin's First Puzzle

At midnight in Milan, my phone buzzed. An old colleague whispered: "Inter is sitting on 11 ticking bombs." I didn't need to ask more. I knew exactly what he meant. Contracts. Eleven contracts expiring within the next two seasons — and new sporting director Dario Baccin has just received his first assignment: keeping the house from exploding. Baccin succeeds Piero Ausilio — a man who stayed with Inter through countless ups and downs. But this is no time to get comfortable in a new seat. Four players expire on June 30, 2027: Calhanoglu, Dimarco, Mkhitaryan, and Di Gennaro. Seven others — Bastoni, Thuram, Pavard, Carlos Augusto, Zielinski, and two more names — expire on June 30, 2028. Eleven people, eleven decisions, and one question: who does Inter keep, who do they sell, and who walks away for nothing? "A deal never dies at the negotiation table, it only dies when the phone battery runs out." I wrote that line two decades ago, and it remains true today. But for Inter, the problem isn't phone batteries. The problem is how many calls they have to make in such a short window. Let's start with the most important one: Hakan Calhanoglu. The Turkish midfielder — now 31 — is having a brilliant start to the season. He is the tactical fulcrum in Simone Inzaghi's 3-5-2, the deep-lying playmaker who dictates tempo, the man who transitions defense into attack. Losing Calhanoglu on a free in 2027 isn't just losing a player — it's re-engineering the entire midfield. And behind Inter's back, Turkish clubs are dreaming of a free transfer for their hometown star. But here's what I want you to analyze carefully: Calhanoglu's "brilliant" form might be a contract-year effect — a phenomenon I've witnessed dozens of times in 53 years in this business. Players entering the final year of a contract often perform better to strengthen their negotiating position. The question: should Inter pay peak wages based on form that might not sustain after signing? That's a gamble. But not signing is an even bigger gamble. Federico Dimarco — 28, in his prime — is another delicate story. In Inzaghi's system, Dimarco isn't just a wing-back. He's an inverted wing-back who tucks into midfield, participates in build-up, and delivers lethal crosses from the left. The original article describes his situation as "delicate." My translation: negotiations will be complex, and Inter cannot afford to lose him in 2027 — not at 28, not when he's at his peak. Alessandro Bastoni — 27, left-sided center-back in the back three — is the backbone of Inter's ball progression. He's the one who breaks pressing lines with line-splitting passes. The article notes Bastoni stayed at Appiano after months of transfer rumors. That's a positive signal. But his contract expires in 2028 — meaning this battle will resurface, possibly at a higher price. And then there's Marcus Thuram. He arrived on a free in 2026, and now — at 28 — has become one of Serie A's most valuable strikers. The original article emphasizes that his contract represents a "potential source of capital gain." Let me be blunt: if Inter doesn't renew before 2028, they lose an asset worth €60-80 million — I'm speaking in Transfermarkt-style valuation, figures to be verified — for nothing. This is the clearest financial red flag in the entire story. "Agents don't chase the ball, they chase the flow of money. I just watch where the money flows." That line of mine has never been truer than with Inter's situation. Because this isn't just about retaining players. This is about a financial model. Inter under Oaktree Capital has built its squad on free transfers — Thuram, Zielinski, Mkhitaryan. Now the bill has come due. Signing free agents is easy; keeping them at market wages is a completely different story. When someone says "we're negotiating," I translate it as "we don't have the money yet." Same sentence, two levels of understanding. And with 11 contracts expiring in two years, Inter faces a multi-season wage inflation spiral. Renewing Calhanoglu and Dimarco at market rates will significantly increase the wage bill. Under UEFA's squad cost control ratio — limiting squad costs to 70% of revenue — Inter could be pushed toward the compliance boundary. But here's what most analyses miss: the free-transfer strategy creates a structural vulnerability. When you build a squad through free transfers, you accumulate players with no resale value if they leave on frees. This creates a "use them or lose them" dynamic — either renew, or sell before the final year, there is no third option. And it limits squad-building flexibility. Now, let's talk about what nobody in the original article mentions: Calhanoglu's contract-year effect. I've seen this too many times. Players entering the final year of a contract often perform better — not because they suddenly became better, but because they have financial motivation to prove their worth. If Inter signs Calhanoglu to a new deal based on current form, they might be paying for an unsustainable peak. But if they don't sign, they risk losing their most important player — and the narrative becomes "Inter let a world-class player walk for free." That's a PR disaster. One more detail I want you to notice: the original article mentions Akanji and Stones in the 2028 group. This is a serious data error. Akanji and Stones play for Manchester City, not Inter. If I were making financial plans based on this article, I would demand a full verification of the list before making any decisions. In my line of work, one small error can lead to one big wrong decision. Back to Baccin. The pressure he faces is immense. As a new sporting director, his first task is high-visibility contract management under media scrutiny. If he fails to secure key renewals, his tenure at Inter will be defined from day one — and not in a positive way. Let me tell you what I would do if I were in Baccin's seat. First, I'd prioritize renewing Bastoni — he's shown goodwill by resisting outside interest. Second, I'd handle Dimarco before the season ends — letting him enter his final year without clarity is an unnecessary gamble. Third, I'd have a frank conversation with Calhanoglu — not about money, but about the future. And fourth, I'd start looking for Mkhitaryan's replacement right now — not wait until he leaves. As for Thuram — I wouldn't let him reach 2028 without a decision. He's Inter's biggest asset in this group. If you can't renew, sell before the final year. Don't let a €60-80 million asset evaporate into zero. "A missed call from an unknown number at midnight? Don't delete it. The transfer market whispers through missed calls." Inter is receiving many missed calls from Turkish, English, and Saudi clubs. The question isn't whether they'll answer. The question is how — and when. Baccin's puzzle isn't just about retaining players. It's about maintaining a tactical system, protecting asset value, and navigating a financial model under increasing pressure. Eleven contracts. Two seasons. One chance to get it right or wrong. And when the summer of 2027 approaches, we'll all know what kind of sporting director Baccin is. As for me, I'll sit here, watching the flow of money, waiting for the next missed calls. Because in the transfer market, nothing is over until the phone battery dies.