Cash Strapped Suning Will Be Forced To Sell Stake In Inter, Financial Times Report

Cash Strapped Suning Will Be Forced To Sell Stake In Inter, Financial Times Report
July 7, 2021 13:45
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Inter owners Suning could be forced to sell the club, with the Chinese company’s dire financial circumstances potentially rendering them unable to continue on in control of the club.

This according to financial news outlet Financial Times, who report that as part of their attempt to ameliorate financial struggles and generate income to cover debt obligations the company could sell their stake in the Nerazzurri.

The Chinese company face a major lack of income as a result of the pandemic, with their dependence on physical retail outlets having caused them to be hard-hit by the inability to keep many stores open in China and globally.

With no alternatives, and with a $1.4 billion investment by Alibaba and the Chinese government not nearly enough to cover the $7 billion owed by the company within the next year, they will turn to asset sales to try and meet their obligations.

Inter, valued at $900 million, could be one of the first items to go for Suning, with the club’s high value making it an attractive possibility in the circumstances to bring in a large quick cash influx.

One factor that could potentially impede the speedy sale of the Nerazzurri by the company is the leadership void, due to founder Zhang Jindong no longer holding a controlling interest.

However, it appears that the company have no other options, and the sale of Inter by Suning will come sooner or later.

By Toni Weeler

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