French football coach Kevin Cauet, son of former Inter midfielder Benoit Cauet, has detailed why it remains difficult for Nerazzurri owners Suning to inject cash into the club.
Speaking to Turin-based newspaper Tuttsport in an interview published in today’s print edition, the coach gave his perspective having worked in Chinese football in a number of years.
Inter’s recent financial problems have been widely documented, with the pandemic putting strain on the club’s finances while owners Suning have also dealt with major debt and liquidity issues of their own as a result of the pandemic.
Even after the massive sales of Achraf Hakimi and Romelu Lukaku in the summer, the Nerazzurri are still dealing with ongoing financial issues and the owners are unable to provide much help.
As Cauet explained, this is partly because the regulations in China make exporting capital to the club difficult for Suning, whose own issues are highly complex.
“We have to distinguish Suning Holding Group, Suning Appliance and Suning.com,” he explained. “The first two are holding companies, while the third is an operating company. To get a clear picture of the situation, a very careful analysis is needed.”
He went on, “In any case, since when the Zhangs have taken possession of Inter, it is undeniable they have done a great job. The Nerazzurri after more than a decade have won the Scudetto again, after reaching the Europa League final. The effects of the pandemic are visible in every club in the world and in every sector. It is not just Suning, in short.”
Of the Chinese regulations on investment in football and their effect on Suning’s decisions he stated, “The rules have changed, consequently they didn’t have much other choice. Let me explain: Chen Xuyuan, the new President of the Chinese football association, also appointed to fight corruption, has reduced private sponsorships for companies to the minimum.”
“Ergo, debts or not, you cannot invest more than a certain amount in football,” he continued. “The result: sixteen clubs, between A and B, and over the last three years, have gone bankrupt. A sort of financial fair play brought to Asia that has had very heavy repercussions on the whole system.”
“Even Guangzhou Evergrande has significant problems – with the real estate sector in crisis, where among other things Suning had also invested heavily,” Caudet explained.
Of Suning’s decisions he stated that “They are conditioned: the Zhangs could no longer intervene directly, also because China has removed football from the priority sector.”
“They cannot say no to the government’s choices,” he went on, “but it is normal to follow what the state decides, and to adapt. Getting money out of their borders is complicated, at all levels.”
He explained that “This is the reason why, despite the sales of Lukaku and Hakimi, and the loan received, exporting capital for Inter remains cumbersome. The goal of a well-run club, the one sought by everyone, is to know how to go forward on one’s own, without external aid. And the effects of these choices will be seen in the next budget.”
Of the controversial sale of Romelu Lukaku Cauet said, “I read the criticisms of Suning for this too, but Inter have remained a competitive team, despite the difficulties. Congratulations to the management who have been able to work well. Today it became clear that Romelu wanted to go to Chelsea from July – in this case the decision was up to the player.”
