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Monday, June 24, 2024

Inter Milan’s Chairman Says Serie A Club Not For Sale

  • In May 2022, the Italian soccer club was valued at $1 billion, per Forbes.
  • It has $412.2 million in junk-rated bonds that will mature in 2027 from its media arm.
Inter Milan

An iconic Italian soccer club won’t reach the market after speculation of a $1 billion sale. 

Inter Milan chairman Steven Zhang said the Serie A club is not seeking investors after reports claimed that global merchant bank The Raine Group would be searching for a buyer for it with Goldman Sachs.

“The club’s future and my group’s long-term commitment to the company have always been crystal clear,” Zhang said

  • In May 2022, Inter was valued at $1 billion, per Forbes, ranking 15th, just behind rival AC Milan ($1.2 billion).
  • It has $412.2 million in junk-rated bonds that will mature in 2027 from its media arm. 

In 2016, Suning Holdings Group — owned by Chinese entrepreneur and billionaire Zhang Jindong  — purchased a nearly 70% stake in the club for $306 million, but its sister company, Chinese electronics retailer Suning.com, has struggled as it reported a $6.6 billion loss for 2021. 

In September, Inter reported $420.7 million in revenue for the 2021-22 financial year — up $71.8 million compared to the year prior. 

It won its eighth Coppa Italia and sixth Italian Super Cup during the 2021-22 season and reported a loss of $139 million, down from $235.1 million in 2020-21. 

Investor Interest 

Brondby, one of Denmark’s most successful soccer clubs, reportedly received an offer from the U.S.-based investor Global Football Holdings for a majority stake — just over 50% — worth roughly $42 million.

The bid included a $30 million loan from Global Football.

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