Suning Archives - The Cult of Calcio

Chatter Regarding Inter Sale Starts Gaining Momentum

September 25, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A

A Saudi fund is concretely interested in taking over. It’s not simply speculation, but it has been conducting the due diligence on their finances for a few weeks. They could soon lodge a bid to Raine Group, the bank that received the mandate to find buyers.

Steven Zhang, assisted by Goldman Sachs, is looking to buy time to find the money to repay a mammoth loan from Oaktree, which he used to finance Inter.

Fresh Rumours About a Potential Inter Sale Resurface

September 22, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2023-2024, Transfer Market

Raine Group has been quietly searching for buyers for Inter in the last few months. They appear to have found an investor willing to meet Suning’s requests, more precisely, a Middle-Eastern fund. The bank is optimistic the deal could go through this time.

Leeds United majority owner and Italian entrepreneur Andrea Radrizzani is probing the possibility of taking over Inter, dueling with Investcorp.

Leeds Owner Reportedly Interested in Buying Inter Too

April 14, 2023 Enrico Passarella Inter Milan, Italian Football, Premier League, Serie A, Serie A 2022-2023

A bidding war might be brewing for Inter, as on top of Investcorp, Leeds United majority owner and Italian entrepreneur Andrea Radrizzani is probing the possibility of taking over the Nerazzurri as well. The situation isn’t straightforward, though. He would need to sell his share of the Whites first.

After trying and failing to acquire Milan in the past, Investcorp has resumed eyeing Serie A and set its sights on Inter this time.

Investcorp Rumored to Have Inter in Their Crosshairs

April 12, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2022-2023

After trying and failing to acquire Milan in the past, Investcorp has resumed eyeing Serie A and set its sights on Inter this time. The Bahraini fund is assembling a consortium and collecting money to convince Steven Zhang to give up the team, something he has long resisted despite their well-known difficulties.

Former Inter owner Massimo Moratti addressed the rumors linking José Mourinho to a potential Nerazzurri comeback and their season in general.

Massimo Moratti Voices His All-Around Concern for Inter

October 4, 2022 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2022-2023

Former Inter owner Massimo Moratti is worried about the direction of the team both on and off the pitch. However, he’s not in favor of making rash decisions to try righting the ship: "We can certainly call it a crisis, but we aren’t very distant from the other top sides."

President Steven Zhang, or better the Suning conglomerate, will take care of the losses accumulated by Inter in the past season.

Zhang to Cover Inter Losses but Future Remains Murky

September 29, 2022 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2022-2023

President Steven Zhang, or better the Suning conglomerate, will take care of the losses accumulated by Inter in the past season. They will not pursue fancy solutions to make up for them but simply pour money into the club to guarantee that there won’t be any financial tribulations in 2022/2023

The Zhang family might have changed their mind about the sale of Inter and reportedly tasked Goldman Sachs with finding a buyer.

Suning Rumored to Have Started Process for Inter Sale

September 12, 2022 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2022-2023

The Zhang family might have changed their mind about the sale of Inter and reportedly tasked Goldman Sachs with finding a buyer. The chatter emerged before the weekend and hasn’t been promptly dismissed by Inter sources, unlike other instances. The Suning conglomerate has a €1.2B valuation of the Nerazzurri.

Inter CEO Giuseppe Marotta discussed the ongoing contract negotiations at Inter, alluding that the club will have some tough calls to make.

Inter Turn Their Attention to the Coppa Italia Final

May 10, 2022 Enrico Passarella Coppa Italia, Inter Milan, Italian Football, Juventus, Serie A, Serie A 2021-2022

Inter are gearing up for Wednesday’s Coppa Italia final against Juventus. CEO Giuseppe Marotta discussed the upcoming clash: “It is an important stage for us because we have not won this trophy in a long time. We are all pulling in the same direction."

Despite the tribulations over the years, the Zhang family is fully committed to Inter. They demonstrated it again by turning down an offer to sell the club.

Inter Owners Reportedly Decline Another Offer to Sell Team

February 22, 2022 Enrico Passarella Calciomercato, Inter Milan, Serie A, Serie A 2021-2022, Transfer Market

Despite some tribulations over the years, the Zhang family is fully committed to Inter. They demonstrated it again by turning down an offer to sell the club. It is the second time it has happened in the span of a year. the Chinese ownership received a €900M bid from American investors to give up its majority stake.

Suning Fully Committed to Inter, Hatch Plans for Future

November 30, 2021 Enrico Passarella Calciomercato, Inter Milan, Italian Football, Serie A, Transfer Market

Suning have put the rumors about a potential sale of Inter behind them. There were some talks with PIF before they acquired Newcastle, but they did not gain much traction. The Chinese conglomerate is committed to the Nerazzurri and has a clear vision for the club.

Inter Nearing Short-Term Solution to Suning Group Money Crunch

October 15, 2021 Enrico Passarella Inter Milan, Italian Football, Serie A

Inter are working to re-finance their current bond and complete the season without financial tribulations. They are finalizing a €400M to complete the season without particular issues on that front. Instead, the sale of the team to PIC is not imminent, contrary to recent reports.

Suning Finalizes Sizeable Loan from Oaktree to Finance Inter

May 20, 2021 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2020-2021

Suning announced to have secured a €275M loan from the Oaktree Capital Management, a fund that handles assets for €122B, to support Inter. The money will technically come from Great Horizon, the Zhang holding that owns 68,55% of the club. The Chinese conglomerate will have three years to pay it back; otherwise, Oaktree will take over.

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