Italian Journalist Mario Sconcerti: “Suning Will Have To Sell Inter”

Italian Journalist Mario Sconcerti: “Suning Will Have To Sell Inter”
July 24, 2021 10:30
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Italian journalist Mario Sconcerti has given his assessment of the Nerazzurri’s financial situation, and predicted that the club will have to be sold by its current owners Suning.

Writing in his column for Calciomercato.com, Sconcerti argues that the situation within the club is, financially speaking, unsustainable, and that only the sale to a new owner can fully get things back in good order.

Suning’s problems are well-known, with parent company Suning.com having recently fallen out of the hands of founder Zhang Jindong after a portion of his assets were seized by a Chinese court and a controlling interest in the company was taken over by Alibaba founder Jack Ma.

Additionally, the problems with debt at the Nerazzurri have been widely reported, with the club having taken on a substantial loan from American fund Oaktree Capital to cover outstanding player wages and other obligations, and a key player also had to be sold in the form of Achraf Hakimi in order to bring in transfer market revenue this summer.

It is these circumstances which Sconcerti believes will cause Suning to have to sell the club.

“The fans of Inter and Juve are chasing each other to demonstrate the difficulties of their clubs,” Sconcerti writes,

“The Nerazzurri CEO Antonello then put his part in the discussion by clarifying that the debt coming due at the end of the year will be refinanced with another debt.

“I have thought and wrote for some time that Inter can only be sold. You cannot get out of such a situation without being recapitalized.

“The sale of Hakimi has not served to write off any of the debt, only to cover the management losses from the last balance sheet.”

He continues by explaining that he feels that the support of banks, rather than the sale of players, is what is keeping Suning’s ownership of the Nerazzuri stable, writing, “However, it is wrong to say that the problem is enormous.

“At most it is for Zhang, but Inter do not shut up shop, at most they pass into the hands of another billionaire.

“And in any case, the Inter of the Chinese owners will withstand things for as long as the banks support them. Certainly not for a player sold or for the redundancy treasures.”

By Toni Weeler

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