Suning can sell Inter as China changes its stance on football investment. As reported by Corriere dello Sport. The Chinese government are now backtracking just six years on from seemingly going all-in on football. They had to improve their national league and the national team. So that they could launch a bid to host the 2034 FIFA World Cup. Many Chinese businessmen and companies have since invested in the European clubs, with Suning buying Inter in 2016 from Erick Thohir. With others buying into the likes of Aston Villa, Southampton, West Bromwich Albion, FC Sochaux and Slavia Prague.
“Whereas in previous years it was seen in China as a sign of power and modernity to own a football club, now it’s viewed almost seen as something you should be blamed for” said the report. The report also suggests that China’s government perhaps did not know about the difficulties of investing in football. Since it does takes time and money to create real value.
Suning can sell Inter if the situation in China does not change
Inter are currently suffering from a lack of liquidity due to COVID-19 losses and China’s new limitations. This has forced Suning to seek fresh investment from private funds. Also, Suning would need to cede control of the club together in order to assure the Nerazzurri’s long-term financial stability. Hence, Zhang was reluctant to leave Inter as he was looking for a short-term loan option. So that he could help them to meet their financial needs. COVID-19 has certainly had an impact on things, and it would appear that investing in this has not produced the desired economic benefits, nor has Chinese football grown as expected. The entire Chinese football project has ‘imploded’, the report explained. Hence, the Chinese government have backtracked with the same intensity with which they went all-in on the project in the first place.
Suning have put their other club, Jiangsu FC on the market as well.