Suning Unlikely To Succeed With Loan Plan For Inter Debt, Italian Journalist Explains

Suning Unlikely To Succeed With Loan Plan For Inter Debt, Italian Journalist Explains
February 9, 2021 12:30
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Inter’s owners Suning have ‘little chance’ of securing the loan they want to cover the club’s debt, a leading Italian journalist explained today.

Tuesday’s print edition of Il Sole 24 Ore revealed Suning were exploring a ‘Plan B’ option that would enable them to solve the Nerazzurri’s financial woes without having to sell the club.

Suning would look to find a loan worth around €150-200 million to help them through to the end of the year, at which point they would hope to kick-start their ownership at Inter once the COVID-19 pandemic fades.

However, Carlo Festa, who wrote the story, admitted this strategy was unlikely to bear any fruit, while also dismissing comparisons between Suning’s plans and Yonghong Li’s decision to take a loan out while owner of AC Milan.

Festa tweeted: “Suning have little chance at the moment of getting the €150-200 million loan they are looking for.

“From what I know, they have an absolute veto to bring money in from China.

“The difference with AC Milan is that Mr. Li didn’t have a penny and was a figurehead.

“Suning have money, but they are in trouble.

“The result is the same though.

“They are trying to find money at 10% rates.

“Suning are a large group which is in trouble, probably temporary, with tough limitations in place from the Chinese government.

“Mr Li had no business, except invented nickel mines.

“There is a difference with Inter.

“Let’s say that things turned out well for AC Milan, because at least Elliott has a project for the club.”

A number of financial groups have been linked with potential investment into Inter, who Suning reportedly value at no less than €1 billion, in recent weeks, including British private equity fund BC Partners.

By Cammy Anderson

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