Toroption 13:46:06 GMT / 22 June 2016
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Inter Milan Bought by a Chinese Commerce Group – 28/07

Chinese group Suning bought 70% of Inter Milano

Suning Commerce Group, a retail giant from China, purchase nearly a 70% controlling stake

of the famous Italian football team Inter Milano (known as the Nerazzuriss – Italian for the Black and Blues, the club’s official colors).

Suning is going to buy Inter’s majority stake, with an amount of 280 million euros. In addition, Suning will take on themselves to cover the club’s debt of 230 million Euro, and borrow a loan of 100 million Euro from the Ex-owner of the team, the Indonesian businessman Erick Thohir.

Thoir, who took control on the club in 2013, will remain the club’s president with a reduced stake of 31%, while former Inter’s president, Massimo Moratti, who hold under 30% of the stake, will sell off his entire stake and will leave the club. This step will leave Inter held entirely by non-Italian hands, for the first time in their history.  In the management team there’s no expectations for changing – Roberto Mancini remaining as manager and Michael Boilngbroke staying on as chief executive.

During 2015-2016, Inter, guided by the former Manchester City manager, Roberto Mancini, finish Seria A (The Italian Premier League) in the fourth position. In 2010 the club made history and was the first Italian club to take 3 major titles: Italy’s Championship, the Italian cup and the Champions League.

“Suning will inject a steady stream of capital investment in Inter Milan, which will help attract more    talented players,” said Suning’s chairman, Zhang Jindong.  Suning also controls the Chinese super league team Jiangsu Suning F.C.

The Chinese investors show a big interest in the European football recently: Inter’s local rivals, AC Milan, are also negotiate with Chinese investors these days, for buying the team.  last month a Chinese businessman bought the famous English Premier-League’s team Aston Vila. Other Chinese investors invested big amounts of money in elite clubs as Manchester City and Atletico Madrid.

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