Inter Owners Suning In Race Against Time To Avoid Jiangsu FC Bankruptcy, Chinese Media Reveal

Inter Owners Suning In Race Against Time To Avoid Jiangsu FC Bankruptcy, Chinese Media Reveal
February 24, 2021 18:30
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Inter’s owners Suning have five weeks to stop their other club Jiangsu FC going bankrupt, a report in the Chinese media warned today.

As per Titan Sports, via FCInterNews.it, Suning have put the reigning Chinese Super League champions up for sale for the symbolic price of one cent, in an attempt to entice new owners.

Jiangsu FC’s next investors would inherit around €63.8 million in debt from Inter’s majority shareholders, which mainly comes from unpaid wages.

If a new buyer were not found by the start of the new Super League season on April 3, the report warned, then Jiangsu FC would likely go out of business.

Wuxi’s municipal government are said to have expressed an interest in purchasing Jiangsu, but they have yet to reach an agreement with Suning.

Suzhou’s local authority is also linked with entering the club, but only on a sponsorship basis.

Suning are thought to be considering a sale at Inter as well, although the Nerazzurri’s former chief executive Ernesto Paolillo today claimed they have yet to make a decision.

A report in Wednesday’s papers said Suning could be forced to relinquish control of the club under pressure from the Chinese government, although a separate story claimed they were still hoping to resume investing into Inter in the future.

By Cammy Anderson
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