Suning are having problems at Inter but their situation is no brighter back at home, as explained by a report in Italy today.
Tuttosport’s print edition and Sina.com (via L’Interista) said the Zhang family were suffering financial problems in their own company and have had to seek help from the Chinese state.
New Retail, a public fund, has bought 5.59% of shares in Suning’s holdings company for €400 million, but it is essentially a loan deal by another name.
If the Zhangs were unable to repay that figure (plus interest) before April 2022, they would lose control of the entire company.
Chinese sources have denied this is a possibility, the report added, but the situation clearly remains very delicate.
Suning purchased a 68.55% stake in Inter from Erick Thohir in 2016, and this is clearly their most challenging period since taking control of the Nerazzurri.
Inter are expected to cut costs and sell one or two key players in the summer transfer window, while also reducing their wage bill.
