Goldman Sachs Provide Inter With Short-Term Loan & Will Help Suning Find Minority Investor, Italian Media Report

Goldman Sachs Provide Inter With Short-Term Loan & Will Help Suning Find Minority Investor, Italian Media Report
April 10, 2021 13:15
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Inter owners Suning have looked to finance the remainder of the season by obtaining a loan from US investment firm Goldman Sachs, with a view to finding a minority partner.

The Chinese retail conglomerate have faced growing financial pressure and mounting debts as the season has progressed, leading to discussions with interested parties over a takeover or investment in the club.

As reported in today’s newspaper edition of Corriere dello Sport, Suning took out a bridging loan to cover costs until the end of the season, totalling €240-250 million.

The first instalment was paid at the end of March, with around €80m coming in and helping Inter pay off outstanding debts before the UEFA deadline.

Nerazzurri President Steven Zhang is now focusing on finding a suitable minority investor to cover costs in the longer term, with the intention being to continue at the helm beyond the end of the season.

Goldman Sachs, meanwhile, are also assisting in this search and have moved the focus of operations to New York, as a partner is identified.

By Apollo Heyes

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