Inter owners Suning are reportedly negotiating with BC Partners over the majority stake in the Nerazzurri, this is what we know so far.
The speculation of a sale increased today when Zhang Jindong claimed Suning will cut down investments ‘irrelevant to retail business’.
Zhang Jindong released a statement saying Suning will ‘focus on their main battlefield’ and ‘close down our business irrelevant to retail business without hesitation’.
La Repubblica has since reported sources close to the Inter owner denies the statement will be relevant for Inter, as it’s a reference to the Chinese territory and not abroad.
But Suning are reportedly looking to sell the majority stake in Inter due to the need of €200m revenue and then there’s the change of directives in China between sports clubs and company names.
After a difficult year with the coronavirus pandemic and football behind closed doors, the new limitations from the Chinese government towards the world of football means Suning are facing a new crisis.
The economic strategies are affected, and BC Partners reportedly started analysing the accounts to weigh up an offer and the entry of the British fund was welcomed, as the ‘investor believes in the club and considers it a solid project’.
But the sports pages in Italy, La Gazzetta dello Sport, Il Corriere dello Sport and Tuttosport, confirmed the British fund made a proposal and reported it to be in the region of €750m for the majority stake.
The demand by Suning is close to €1bn and the exclusivity period ended in January, meaning that Suning could listen to offers from different suitors.
Ares, Fortress, Equt and Arctors are some of the funds that have been mentioned as possible buyers and interested in entering talks with the Inter owners.
BC Partners, on the other hand, have set a March 31 deadline for the Chinese owners, as the negotiations continue with a significant gap in proposal and demand.
The deadline has been set on March 31 due to the obligatory conditions to participate in the European Cups and to be up to date with payments.
Suning are, according to Sole 24 Ore and Il Corriere dello Sport, negotiating with Bain Capital to refinance their current debt of €400m and asking for a further loan of €200m in order to reach the end of the season and meet their commitments.