Suning’s financial woes have been eased somewhat after they converted €55 million worth of loans into equity to help reduce debts at Inter.
Amidst negotiations to sell the club as debts escalated and concerns mounted, the Chinese retail conglomerate are facing pressure to meet Inter’s financial commitments over the coming months.
As reported in today’s newspaper edition of Tuttosport, the Nerazzurri owners have missed out on €60m worth of ticket sales and matchday revenue since the closure of stadiums due to the coronavirus pandemic last year, contributing to the financial crisis.
In order to lighten the burden, Suning have moved to convert the loans from China into equity at the club.
Meanwhile, Tuttosport suggest that the departure of CFO Tim Williams last week to potentially join Tifosy, a consultancy firm representing BC Partners, could signal a step forward in the latter’s attempts to buy Inter out.
BC Partners were granted exclusive access to the Nerazzurri’s accounts in January but talks to takeover the complete have stalled since then.
