Inter Owners Suning Rejected BC Partners Offer On Sunday, Italian Journalist Reveals

Inter Owners Suning Rejected BC Partners Offer On Sunday, Italian Journalist Reveals
February 3, 2021 12:00
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Inter’s owners Suning have already rejected an offer from BC Partners to buy the club, according to a noted Italian journalist.

The British-based private equity fund have been in talks with Suning lately, but as per Milano Finanza journalist Andrea Montanari, who has attempted to clarify the current situation at Inter, BC Partners’ proposal was knocked back last weekend.

Inter are currently suffering from well-documented liquidity issues, which have been caused by the COVID-19 pandemic and new Chinese government restrictions concerning the exporting of capital out of the country.

“The new owners need to arrive before the next transfer window opens because otherwise Inter will have wasted too much time planning their summer business,” Montanari began.

“Suning rejected the offer of BC Partners on Sunday night, we will see if there will be another one.

“Suning have €530 million bonds due and must repay them.”

Montanari then went on to reveal why Inter are tempting to the foreign investors all seemingly interested in acquiring a stake in Inter.

“Inter are tempting for investors because they are one of the few Italian brands that attracts foreign investors.

Montanari also commented on the alleged interest that American investment group Fortress, who manage $49.9 billion of assets, have in purchasing the Milanese club.

“Fortress define themselves as a stress fund, in the sense that they invest on bank loans and therefore on company debts, which is what Elliott did with AC Milan.

“Football is now like a dog chasing its own tail, a smart thing would be to put in a salary cap like in the NBA, ignoring the fact that they are two different businesses.”

Multiple funds have been linked with buying into Inter since BC Partners’ exclusive agreement with Suning expired on Friday without a deal.

EQT, Arctos Sports Partners, Ares Management Corporation, Fortress and Mubadala are all reportedly in the running.

By Cammy Anderson