Suning need €250 million. Steven Zhang said that he would reiterate their commitment to the Nerazzurri in a board meeting on Tuesday. While Suning remain on the hunt for fresh investment. Il Sole 24 Ore reporter Carlo Festa explained the difficulties they are facing. Also, why Fortress is in a pole position to strike a deal with Suning on Calcio Mercato.
“Suning cannot keep Inter under the current circumstances,” he warned. “They are a big group with lots of subsidiaries, so you can’t say they have liquidity problems. But they have fairly high debt but I think they can deal with those. “The issue is that they can’t export capital abroad at the moment because the Chinese government would stop them. “The real question is, would Suning be able to inject another €250 million into Inter without any restrictions? “The government in Beijing is opposing these sorts of operations, so in these conditions, Zhang would have to sell Inter.
Suning need €250 million, deal from Fortress looks likely
Festa continued, “Inter are more or less €400 million in debt with a turnover of roughly the same figure. Which is already a fairly heavy financial burden in itself. “If you then took out a loan for around €250 million, it would mean you’d reach almost €700 million in total debt and that would be unsustainable for a club that isn’t bringing in cash. “For that reason, the option Inter could study is an operation similar to the one AC Milan did with Elliott, where you run up the debt in the Luxembourg-based part of the club where Inter have their holdings group.
So, at last, Festa said that “PIF are the only group in talks over purchasing a minority stake. But we need to see how interested they really are in buying a minority stake. “The Saudis need to improve their international reputation and buying part of Inter would make sense for that reason”.