US-Based Investors Have Shown Interest In Buying Inter Milan From Suning

Investors from the US have come forward with an interest in purchasing Inter Milan from current owners Suning.

This according to US-based newspaper New York Times, who report that both private families and equity investors have shown an interest in buying the club, and have received a tour of the facilities and a look at the accounts.

As NYT note, Suning have always issued clear denials that they want to sell the club.

However, the US newspaper also highlight the financial difficulties that the club have had, particularly since the start of the pandemic.

Moreover, restrictions from China against investing money have also cast doubt on Suning’s ownership of the Nerazzurri.

Accordingly, NYT note that US-based boutique bank Raine Group has won the mandate to seek new ownership for the club. Raine Group had been the bank who facilitated the takeover of Premier League giants Chelsea by a consortium led by Todd Boehly.

US-Based Investors Interested In Purchasing Inter Milan From Suning

According to NYT, Raine’s search has not been entirely unfruitful.

They report that there have been a few interested parties to come forward.

These have mainly centred from the US. NYT report that Raine have identifies both individual families and equity investors, who’ve shown a real interest.

The newspaper note that Suning have slapped a €1.2 billion price tag on the Nerazzurri. Not coincidentally, this is the amount that RedBird Capital paid Elliott Management for AC Milan.

Thus far, NYT report that the debt situation at Inter has been a major factor behind why Suning have not been able to sell the Nerazzurri at their preferred valuation.

In May of 2021, Suning took on a loan from US-based fund Oaktree Capital, worth €275 million. With interest, it will cost the Nerazzurri owners €350 million to repay that loan when it comes due next May.

Should the Inter owners be unable to do so, they’d risk having control of the club pass into the hands of Oaktree.

NYT quote former Inter Milan CEO Ernesto Paolillo, who believes that Suning will either have to make a sale or give up control to Oaktree.

Accordingly, NYT note, Inter’s owners are in a precarious position. So far, they’ve showed no outward willingness to sell the club at anything less than their asking price.

However, the debt situation makes it hard to sell Inter at Suning’s valuation. And, in a bind for the current owners, if they cannot refinance the debt then they could lose control of the Nerazzurri anyway.

Thomas Zilliacus & InvestCorp Among Names Publicly Linked

Whilst NYT report that there have been unnamed parties who’ve shown an interest in buying interest from the US, there have also been some more widespread public links to potential buyers as well.

In the last week or so, the name of Thomas Zilliacus has emerged as a possible candidate to buy Inter from current owners Suning.

He has joined the likes of Bahrain-based fund InvestCorp and Italian businessman Andrea Radrizzani in this sense.