Wtf is wrong with them, can’t even pay salaries? This is in China so I don’t think you can blame Chinese governmentOriginally Posted by Il Drago
Wtf is wrong with them, can’t even pay salaries? This is in China so I don’t think you can blame Chinese government
Ziyad Of Boston
You could if you assume that the issues that arose are due to a conflict between Zhang and the government
Basically from what I gather, there were grievances from Zhang toward the regime as they didn't support his "bad domestic investments" since they were the ones pushing for them and that didn't sit well with the government.
It's China, so no one really knows for sure. The information flow from within is too minimal and no one can be sure what's true and what's just what they want everyone else to hear.
<<Gli scudetti è giusto vincerli sul campo>> Antonio Conte on Calciopoli
#ConteOut
Their Chinese club is about to be dissolved if someone doesn't absorb their debts. This is hardly different.
More "good" news from China:
The trading of Suning.com (SZSE: 002024), a listed company in Shenzhen Stock Exchange, is suspended, due to 'talks of change of control'. The top 3 shareholders of http://Suning.com is Zhang Jindong(20.96%), Suning Appliance Group（19.99%）and Taobao (19.99%). Suning.com (002024) issued an announcement about the trading suspension in Shenzhen Stock Exchange. Zhang Jindong (20.96%) & Suning Appliance Group(19.99%) plan to transfer 20-25% of total shares. The main area of potential buyers (reportedly state-owned) is infrastructure.
#CONTEOUT
"When I had just become President, I went to Austria for our match. On the stadium billboard it was written: 'Inter Milan'. I went to report to the manager of the opposing team that it was enough to leave Inter. So they canceled Milan "
Massimo Moratti
So it's not just inter, Suning are broke? Or zhang is being forced by the state to sell Suning and probably has had assets freezed?
Right, just accept BC partners offer to fuck please. I don't even care at this point but we need out of Sunings hands immediately. I don't want them to take out another 250m loan to pay our bills and just increase our debt.
Last edited by Harpsabu; 25 Feb 21 at 10:19.
This.
I really want Inter to get out of this connection to China and the CCP. Only one in our ownership side who actually cares about what happens to the club will be Steven Zhang and doesn't have any part in the actual ownership (apart from maybe owning some Suning shares).
I don't know if BhenChod Partners will be any better, but I want the clarity and soon.
https://www.bloomberg.com/news/artic...ke-in-retailerChinese Conglomerate Suning.com Says Shareholders Will Sell Stake in Retailer
Suning.com Co. said shareholders plan to sell a 20% to 25% stake in the retailer to unidentified buyers, in the latest sign that parent Suning Appliance Group Co. is working through liquidity issues.
The unit of the Chinese retail and e-commerce conglomerate didn’t give a price, but a 25% stake would be valued at as much as 16 billion yuan ($2.5 billion), based on Suning.com’s latest stock price. Suning.com said the shares would be sold to buyers in sectors including infrastructure, according to a statement to the Shenzhen stock exchange.
REDD reported earlier that Suning Appliance was in talks to sell all or part of its stake to a conglomerate of state-owned companies, and Suning.com shares were halted Thursday pending news. Suning.com’s yuan bond due 2023 rose 2%, the biggest gain in one month, as of 12:15 p.m. local time, after gaining as much as 5.7% in the morning.
Suning Appliance holds a 19.88% stake in Suning.com, while the biggest shareholder is billionaire founder Zhang Jindong, with a 20.96% stake. Alibaba Group Holding Ltd. has a 19.99% share, after the two companies formed a strategic alliance announced in 2015.
Concerns about Suning Appliance’s financial health have been raised since last year, when online chatter of a cash crunch pressured bonds issued by the key listed unit. Suning Appliance dispelled the talk as a “rumor” at that time.
Suning Appliance Offers Bond Swap in Sign of Liquidity Pressure
Both Suning.com and its parent face high near-term repayment pressure, according to China Chengxin International Rating Co. A combined 15.8 billion yuan of bonds will be payable this year for the two firms when they are confronting refinancing difficulties, the rating firm said in a report earlier this month.
In a recent sign of liquidity strain, Suning Appliance conducted a swap offer for a yuan bond due Feb. 2. A majority of the holders agreed to exchange the 7.3% note for a new two-year bond carrying the same coupon.
In January, Suning Appliance said it pledged 376.5 million shares, or a 4.04% stake, in Suning.com to China Minsheng Banking Corp. to raise funds.
Suning Appliance’s debt risk has now come under focus after it helped China Evergrande Group avoid a cash crunch by deciding not to demand repayment of a 20 billion yuan strategic investment in the indebted developer. Suning is an Evergrande supplier, so a collapse could have had ripple effects on its business as well.
Nanjing-based Suning.com is one of the largest retailers of appliances, electronics and other consumer goods in China. The company closed about 1,000 self-owned shops in the first nine months of last year, bringing the total to 2,697, including the China operations of French supermarket Carrefour SA which it acquired a majority stake in last year. It also has 6,588 franchised stores, according to its third-quarter financial report.
The company reported a 93% drop in net income for the third quarter, after a net loss in the first six months amid weak demand and temporary store closures during the pandemic.
#CONTEOUT
"When I had just become President, I went to Austria for our match. On the stadium billboard it was written: 'Inter Milan'. I went to report to the manager of the opposing team that it was enough to leave Inter. So they canceled Milan "
Massimo Moratti
**I move away from the mic to breathe in
¯\_(ツ)_/¯
Is there any point in changing the logo after thisit’s almost like the equivalent of shitting on the office desk after getting fired.
"A Black Hearted Slave, For The Blue Blood Kings, Bleeding For The Team, And The Titles They Bring"
Forza Inter
*CAMPIONE DEL MONDO* 2009//2010-- COPPA ITALIA -- SERIE A -- UEFA CHAMPIONS LEAGUE --
-- SUPER COPPA ITALIANA -- FIFA CLUB WORLD CUP --
Looks like "Big Trouble in the red China", yikes!
Why would you change logo if you are in an economic crisis??
Because they are Chinese cocksuckers.
What I’m hoping for is that they’ve already agreed a deal to sell us but are waiting till after the season finishes to hopefully celebrate the scudetto as their final act. Would be deserved even though I think people vastly overrate their spending, it really wasn’t much but they most definitely helped take the club forward after that vulture Thohir set us back.
Having said that that’s what I’m hoping for, if they still haven’t an agreement or aren’t willing to sell them I’m afraid we are fucked the longer this goes on. If enters the summer chaos will erupt
That's what I'm hoping for too. Like there's already some sort of deal in place and Sunning want to see out the end of the season for ceremonial purposes. Although it seems unlikely that no one in the press will have gotten wind of that.
Here's a detailed article about it.
https://sempreinter.com/2021/02/26/s...dia-point-out/
#CONTEOUT
"When I had just become President, I went to Austria for our match. On the stadium billboard it was written: 'Inter Milan'. I went to report to the manager of the opposing team that it was enough to leave Inter. So they canceled Milan "
Massimo Moratti
It's not just press, it would have to be public knowledge at this point due to the involvement of shareholders, banks, chairs, etc. Sorry to break your guys' hearts on this one but they could literally not keep a sale private knowledge.
Pretty sure it's illegal too.
Sent from my SM-G973W using Tapatalk
"Moggi was just a grape in a vineyard of bullshit"
Official: Suning Group announce all their football clubs(in China), including the CSL reigning champion Jiangsu FC(formerly Suning), the Women's CSL powerhouse Jiangsu Suning Women's(2019 WCSL champion) and youth teams of all levels, 'cease operation from today'.
Let's enjoy this season guys because next year we're going to play in Serie D.
#CONTEOUT
"When I had just become President, I went to Austria for our match. On the stadium billboard it was written: 'Inter Milan'. I went to report to the manager of the opposing team that it was enough to leave Inter. So they canceled Milan "
Massimo Moratti
The players and mgmt are all calm, i believe they know it's just a matter of time till Inter will change ownership, probably to BC Partners. Inter isn't similar to Jinagsu.
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