Inter’s owners Suning have received a much-needed financial boost from the Chinese government, according to a report in the Chinese media today.
Caixin (via Calcio e Finanza) revealed Zhang Jindong’s group had taken 3.2 million yuan – a little more than €400 million – from a fund controlled by the state.
Suning.com have announced that 5.59% of their company shares will be transferred to a group of four state businesses which is controlled by Jiangsu’s provincial government.
The shares are controlled by one of Zhang’s companies affiliated with Suning.com, which currently holds 19.7% of the Suning’s shares in total.
Zhang will be obliged to repurchase the shares before April 1 in 2022, the report added, by paying back the 3.2 million yuan fee plus interest (which should be around 3.85% annually).
Inter’s owners are known to be battling their most difficult financial period since taking control of the club in 2016, and it remains to be seen if this latest development will have any repercussions on the Nerazzurri.
