Suning have identified three main contenders to become Inter’s new minority shareholder, a report in the Italian media confirmed today.
Having missed out on the €350 million which JP Morgan had promised to Inter for their involvement in the European Super League, club president Steven Zhang has turned to Goldman Sachs to help Suning find a financing agreement worth €250 million.
Whoever joins Inter would take over LionRock Capital’s 31.05% stake in the club, with Zhang pledging 100% control of Great Horizon – the Luxembourg-based company through which Suning control Inter – as part of the deal.
Suning have already pledged shares in Inter’s media company, Inter Media & Communication, to creditors who issued them two bonds worth a combined €375 million.
In addition to that, they have also pledged a majority stake in Inter itself to Alibaba, the company controlled by Chinese billionaire Jack Ma.
The above arrangements make it clear that the current situation is very difficult for Inter and Suning, but the report did at least offer one piece of encouraging news.
Suning are expected to meet all the Nerazzurri’s payment deadlines approaching on June 30, including the payment of outstanding player salaries.
In addition to the three groups mentioned above, Inter are also in advanced talks with Oaktree Capital Group over a reported €150 million deal, as per another source this afternoon.