Suning Could Need To Sell Inter In Order To Restructure Their Debt, Italian Media Claim

Suning Could Need To Sell Inter In Order To Restructure Their Debt, Italian Media Claim
October 14, 2021 20:00
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Inter’s Chinese owners may need to sell the club in order to protect their assets and reputation back in China as debt worries grow, according to a report in the Italian media today.

As has been reported by the economics-focused newspaper Il Sole 24 Ore, the Chinese owners are currently being pressured by the Chinese government to restructure the debts that they owe to Evergrande, which amount to around $2.6 billion.

Major Chinese banks are working in harmony with them to facilitate the process, and the main bank involved is Citic.

Inter are the primary sporting asset of the Suning Group so a sale to the Saudi Arabian Public Investment Fund would be of interest to them if it becomes clear that they have to raise money fast in order to settle their debts.

Steven Zhang has not physically been back to Italy for some time but he has been involved in meetings via video link.

 

By Euan Burns

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