Suning’s departure from Inter is only a matter of time, according to a leading Italian journalist today.
Inter are celebrating their 113th birthday today but the future of the club remains subject to constant speculation, as their Chinese owners battle serious financial difficulties.
In an interview with FcInter1908.it today, La Repubblica’s Franco Vanni tried to explain when Suning were most likely to sell the club.
“Suning are destined to leave Inter,” he said.
“It’s all about the timeframe: if I were Steven Zhang, in fact, I’d do everything to stay at the helm until the end of the season.
“This is less for romantic reasons and more because of the fact that between TV rights, UEFA’s market pool and other prize money, a team that wins the league is worth more on the market.
“It remains to be seen, given Inter’s upcoming deadlines, whether Suning can use the money they brought in by selling shares of Suning.com to ease the club’s financial problems.
“This is still not entirely clear.”
Inter have received interest recently from Saudi Arabia’s Public Investment Fund (PIF), who are reportedly interested in purchasing a 30% stake from Suning to become minority shareholders.
The Nerazzurri have also had extended negotiations with British-based private equity fund BC Partners, who completed due diligence on Inter’s accounts in February.
Vanni believes PIF’s offer is likely to be more appealing to Suning, given their eagerness to remain in control at Inter.
He explained: “Saudi Arabia’s sovereign fund is extremely rich and it’s a fund that operates differently to BC Partners.
“While the London-based group use money from investors to spend on target companies, sovereign funds are based on petrol sales.
“The Saudis have been trying to invest in Italy for a while; they tried at Roma and Palermo and then with La Scala in Milan.
“The problem with the Saudis is there’s always a point where you get an outcry over their political intentions and human rights record.
“Inter fans are dreaming but the interest is real and PIF’s talks (with Suning) started a while ago.
“If Suning sold shares to the Saudis they would have two advantages.
“Firstly, PIF would be prepared to purchase a minority share just to enter their business, although often when you have an important stake like 30% the plan is to buy the majority eventually.
“Secondly, it would give Suning the chance to choose, based on future economic scenarios, whether to repurchase the shares at some point or sell Inter altogether.”
Despite Inter’s off-field turmoil they continue to go from strength to strength on the pitch, with Antonio Conte’s side re-establishing their six-point lead at the top of Serie A last night thanks to victory over Atalanta.
