Inter Milan and the 11-Contract Puzzle: Baccin's First Challenge

On Tuesday afternoon at the Appiano Gentile training center, I stood by the technical area watching Inter Milan's training session. Calhanoglu received the ball from his familiar regista position, but I wasn't watching his long pass. I was watching how he stood before the ball arrived — feet spread wide, body leaning slightly forward, like someone listening to a drumbeat before stepping into a dance. That was the moment I realized: Inter Milan's biggest story this season isn't on the pitch, but in the office of new sporting director Dario Baccin, who faces 11 contracts expiring within the next two years. Baccin just took over from Piero Ausilio, and his first task resembles a brain-teaser. Four players expire on June 30, 2027: Federico Dimarco, Hakan Calhanoglu, Henrikh Mkhitaryan, and backup goalkeeper Raffaele Di Gennaro. Seven others expire in 2028: Alessandro Bastoni, Marcus Thuram, Benjamin Pavard, Carlos Augusto, Piotr Zielinski, Davide Frattesi, and several more. Eleven contracts total, two deadlines, and one big question: who does Inter keep, who do they sell, and how do they avoid losing their most important pillars for zero transfer fee? The rhythm is not in the feet, but in where one stands before the ball arrives. This saying has never been truer than in Calhanoglu's case. The Turkish midfielder is having a brilliant start to the season, and that form is driving up his renewal price. Turkish clubs are dreaming of a free transfer, and Inter must act fast or risk losing the most critical link in Simone Inzaghi's 3-5-2 system. Calhanoglu isn't just a midfielder; he's the tempo-setter, the one standing where the ball always passes through. Losing him means redesigning the entire operational system. Dimarco, born 2026, is entering his career peak. His inverted wing-back role — tucking into midfield to participate in build-up and delivering elite crosses from the left — is a tactical identity hard to replace. His situation is described as 'delicate,' a word that in football language usually means negotiations are hitting complications. At 28, Dimarco is entering his prime years, and this is the worst time to risk losing him. Bastoni, born 2026, is a different case. The left-sided center-back stayed at Appiano after months of transfer rumors, a positive signal that he's open to staying long-term. But his contract expires in 2028, and the battle to keep him will resurface. Bastoni provides the line-breaking passes from the back three that bypass the press, an indispensable part of Inter's build-up architecture. Losing him isn't just losing a good defender; it's losing a link in the ball progression chain. But the financial story is the most striking part. Marcus Thuram joined Inter on a free transfer in 2026, and now, if not renewed before 2028, Inter loses an asset worth an estimated €60-80 million for nothing. Inter's problem isn't just keeping players; it's preserving asset value. The free-transfer strategy under Oaktree Capital ownership brought quality signings, but now the bill comes due: free arrivals need market-rate renewals. It's not speed, it's the jump rhythm. Inter faces a cascade of decisions, and how they handle it will shape the club's future. The question isn't whether Inter has enough money, but whether they're wise enough to prioritize the right people at the right time. Mkhitaryan, at 36, will almost certainly leave, freeing wage budget but creating a gap to fill. Di Gennaro, the backup goalkeeper, is the lowest-risk case. But Calhanoglu and Dimarco are the pivotal decisions. There's a contrarian angle I want to offer: Calhanoglu's brilliant start might be a contract-year effect. Players often elevate their game in the final year of a contract to strengthen their negotiating position. If Inter renews based on this form, they might be overpaying for a player entering his 30s. Conversely, letting him walk free turns the narrative into 'Inter let a world-class player leave for nothing.' This is a double-edged sword, and Baccin needs to see beyond the numbers on the negotiation table. The Japanese taught me: sadness also has a pause, and that pause is not empty. Inter is entering a challenging pause where contract decisions will shape not just this season but the next cycle. If Inter successfully renews Bastoni, Thuram, and Pavard, the squad retains its asset value. If not, the club faces a squad-value write-down of potentially hundreds of millions of euros. I left Appiano as the sun began to set, remembering a phrase from a Japanese player I once interviewed: 'In football, the most important thing isn't how fast you run, but whether you stand in the right place.' Inter stands at a critical crossroads. The question isn't how many players they'll lose, but whether they have the calm to keep rhythm in a turbulent period. The jump rhythm isn't about stepping faster than opponents, but stepping slower when opponents are panicking. And in this transfer game, Inter needs to dance to their own rhythm, not the market's.