InterSpac President Carlo Cottarelli: “We Want To Work With Suning”

InterSpac President Carlo Cottarelli: “We Want To Work With Suning”
June 29, 2021 20:00
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InterSpac President Carlo Cottarelli has spoken about relations between the fan ownership initiative and the current ownership of the Nerazzurri.

Speaking to the program “Tutti Convocati” on the Italian broadcaster Radio 24, the economist and Inter fan explained that there exists a dialogue between his initiative and Inter owners Suning.

In addition, Cottarelli went into detail on the possible mechanics for the project, and how financial support and stability would be achieved.

The InterSpac project is meant to transition the Nerazzurri away from a model where it has a single owner (as the case may be, Suning) and towards a model similar to that employed by German Bundesliga clubs where shares in the club are owned publicly by fans.

The initiative faces obstacles and logistical hurdles, but Cottarelli’s interview gives insight into how its architects intend to meet them.

“We informed Inter,” he said, “there was no negative reaction. Two and a half years ago there was no interest and it was impossible to continue. Now we can.”

He continued: “No major effective attempts at popular shareholding have been made [in Italy], perhaps this is the first real attempt in Serie A or Serie B.”

On how the project will work, he had this to say:

“Listing on the stock exchange? The possibility is not excluded, it also depends on the current ownership with which we want to work.”

On why he is pursuing the project:

“To solve long-term problems, replacing debt capital with the fresh capital from the fans, and then creating more links with the supporters, more presence at the stadium, more publicity.”

Cottarelli closed by saying, “From what we read in the newspapers, the financial situation [at Suning] is not very good, but we do not have access to the data,” underlying both the intentions behind the initiative and the uncertainty going forward.

By Toni Weeler

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