Suning’s Ownership At Inter Very Much In Doubt, Italian Media Report

Suning’s Ownership At Inter Very Much In Doubt, Italian Media Report
September 25, 2021 12:15
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Inter owners Suning may not be in charge of the club, with the Chinese company actively searching for buyers as they look to divest from football.

This according to today’s print edition of Milan-based newspaper Corriere della Sera, who report that American and Arba funds are among the potential buyers for the club as Suning consider selling their shares to new investors.

Suning’s debt and liquidity problems have been widely known for some time, and have gone hand in hand with the financial issues at the Nerazzurri, both of which have been exacerbated by the pandemic.

Suning’s issues do not look to be slowing down, with the most recent problems faced by the company including the recent closure of the London office of Suning Sport and the risk of default by Chinese company Evergrande, in which Suning have invested around €2.6 million.

Meanwhile, Suning’s ownership of the Nerazzurri still looks to be fairly precarious, even after the cash injection which came in the form of a €275 million loan from American fund Oaktree Capital.

Some of Suning’s shares in the club are collateral for the loan from Oaktree, but at any rate the company could well be looking to fully give up control in Inter.

Carlo Cottarelli has also been pressing forward with the InterSpac initiative for fan shareholding, although it remains to be seen how feasible this project is amid wider uncertainty around the ownership of Inter.

By Toni Weeler

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