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Monday, February 26, 2024
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Inter Milan Owner Has New Plan to Attract Investors

  • Suning is considering a fresh attempt to attract new investors in Inter Milan.
  • The Italian soccer club has been experiencing financial woes.
Inter Milan/Design: Alex Brooks

China-based Suning Holdings is looking to make a fresh attempt to attract new investors in Serie A’s Inter Milan, according to Bloomberg. 

The desire to inject fresh capital follows the Italian soccer club’s record loss of $284.6 million in the fiscal year ending June 30, 2021, up from $118 million the year before. As a result, Inter delayed payments to its players despite winning its 19th Serie A title in May. 

Inter’s total revenue reached $422 million, down from $444 million a year earlier, due to stadium closures and a decline in sponsorships caused by the pandemic. 

  • In January, private equity firms EQT Partners, Arctos Sports Partners, and BC Partners expressed interest in the club.
  • Talks stalled in March between BC Partners and Inter due to disagreements about the club’s valuation ($743 million) and the size of the stake on offer.  

Suning owns a 68.5% stake in Inter, which it purchased for $306 million in 2016. The holding company joined a group of Chinese investors who spent $1.8 billion between 2015 and 2017 acquiring stakes in more than a dozen European soccer clubs.

In May, Los Angeles-based Oaktree Capital agreed to acquire a 31% stake in Inter from LionRock Capital in a deal valued at $336 million. Oaktree will also loan $310 million to the club.

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