Italian Journalist Carlo Festa: “Suning Want To Turn A Profit When Selling Inter But That Will Be Difficult”

Italian journalist Carlo Festa believes that Suning’s Steven Zhang wants to turn a profit when selling Inter to future investors.

In an interview with Italian broadcaster TV Play, as reported via FCInterNews, the Sole 24 Ore journalist Carlo Festa warned that it will be difficult for Inter’s Chinese owners to turn profit when selling the club to prospective investors.

“I can’t say with certainty what will happen. If I was a shareholder at Inter I would sell. This way there could be a shareholder that refinances Inter and cuts the ties with the Zhang family.

“The problem though is the price tag. The Zhang family want to leave by getting back all of the money they invested and to turn a profit as well.

“The debt that the Zhang family faces is scary as it is due in only 19 months. The Inter President is looking to refinance the Oaktree debt through their financial advisor.

“There has been contact with other hedge funds, but it remains complicated because of the increased interest rates. The other plan being considered is to sell the club,” the Italian journalist specialized in sports finance stated.

“The club has chosen American banks who specialize in selling clubs. This means they are evaluating every option. The only problem remains the price.

“Inter have a great brand, but they have a problematic budget,” Carlo Festa continued.

Inter owners Suning are under pressure to sell the club before the $275 million USD loan to American hedge fund Oaktree is due.

The club has been reportedly put up for sale through investment banks Raine Group and Goldman Sachs.

If the Nerazzurri do not pay back the loan on time, then control of the club would pass on to the American hedge fund Oaktree.

Steven Zhang was appointed Inter President in October 2018 after Suning Group purchased the club from previous owner Erik Thohir. He become Inter’s youngest ever president at only 26 years old.