Inter’s owners Suning have started exploring a ‘plan B’ in order to stay at the helm of the club, according to an Italian media report today.
As per Il Sole 24 Ore, Suning’s plan B is to cover the Nerazzurri’s debt by obtaining loans, rather than selling the majority of the club, and they are already in discussions with various financial groups and investment funds over this.
This approach would see Suning follow in the footsteps of Yonghong Li, who took out a mega-loan with Elliott before defaulting on its repayment and handing the fund control of AC Milan.
Suning tried to arrange a loan from big Italian banks in previous months, when it was first becoming clear they could encounter financial issues at Inter, but the idea was shelved.
The main issue is that Inter are already some €400 million in debt, including €375 million in bonds that expire next year.
The Nerazzurri need €150-200 million in funds quickly but this financing strategy would allow Suning to reach the end of the year with the funds required to meet all their deadlines, while also remaining the controlling shareholder of the club.
Fortress could be a fund that Suning look to for such an investment, with the American fund having already tried to carry out similar operations with Serie A for their TV rights.
In the meantime, BC Partners are still awaiting a response on their offer to buy Inter from last week.
