Suning Have Decided To Stay At Inter With Situation ‘Much Calmer’ Now, Italian Journalist Reveals

Suning have decided to continue as Inter’s owners, at least according to a leading Italian journalist.

Speculation has intensified in recent weeks about the Nerazzurri’s ownership situation, with Suning known to be battling financial problems both in Italy and back home in China.

However, Il Sole 24 Ore reporter Marco Bellinazzo has revealed Inter’s economic situation is improving and Suning want to remain in charge whatever happens.

Speaking last night on YouTube channel Il Verbo del Vate, Bellinazzo said: “The situation at Inter has been much calmer now, and not only in a sporting sense.

“A few hours ago, Suning confirmed their intention to remain as the club’s main shareholder.

“They will continue their search for a lender or a minority shareholder who can take over LionRock Capital’s stake, or perhaps a bit more.

“But Suning will not sell a majority stake at Inter.

“They want to remain Inter’s main shareholders unless an offer worth €1 billion arrives, but there are no offers of that nature and there never have been.

“Suning are looking at various dossiers that are now on the table for a hybrid operation model.

“This means a group acquiring some shares or providing an initial loan which could be partially transformed into an equity investment by the lender, who would at that point become a new shareholder.”

BC Partners have been linked with investing into Inter for nearly three months now, but there has been no talk of any progress in recent weeks.

Bellinazzo explained why the British-based private equity group’s negotiations with Suning had fallen flat.

“Suning’s talks with BC Partners ended when the parties could not agree on a valuation for Inter,” he revealed.

“And as the weeks have passed Suning’s situation has been clearing up, thanks in part to the sale of shares in Suning.com.

“Inter’s league form has pushed them to want to recoup the investments they’ve made in the club worth over €700 million (by remaining in charge).

“It would have been absurd for Suning to lose the club at a time like this.

“Now they are looking for the best partner which can guarantee a loan of between €250-300 million to reach the end of the season.

“After that, they’ll look for a way to refinance Inter’s €375 million bond and how to eventually transform a part of this investment into shares.”

Bellinazzo also discussed China’s long-term plans for football and explained how everything going forward depended on the desires of their government.

“The strategy launched five years ago by the Chinese government in football, to attack new markets by following the model used by countries in the Arabian Gulf, involved securing strongholds.

“Inter was a central element in this project.

“Many in Beijing were hesitant about the operation to buy Inter which has cost over €700 million, for results that did not arrive.

“The dynamics of this Serie A season have given Suning – and those who opposed the operation within China’s communist party – an opportunity to see things differently on whether Inter should be kept.

“Seeing a Chinese-owned club sitting top in one of Europe’s top five leagues means we are seeing the first result of this strategy.

“Everything will be done to avoid creating problems for the team at Inter and they’ll try to keep things going for next season so they can make progress in Europe.”