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Thread: The Suning Commerce Group

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    Quote Originally Posted by Batman View Post
    It’s just incredible how some people sitting on their big asses with their smelly boxers on behind the computer, being smartass and talking about shit they dont even know 5% of it. Calm the fuck down and stick to football, if any.
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    Quote Originally Posted by cherntodd View Post
    Like you don’t say the post office is guilty simply because it is in certain countries.


    <<Gli scudetti è giusto vincerli sul campo>> Antonio Conte on Calciopoli

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    Quote Originally Posted by Batman View Post
    Always tried to avoid any political subjects, and I will continue to do so.

    It’s just incredible how some people sitting on their big asses with their smelly boxers on behind the computer, being smartass and talking about shit they dont even know 5% of it. Calm the fuck down and stick to football, if any.
    Aren't you supposed to be practicing for Sanremo?
    "If I have to slap a Uruguayan in the face, I will." - Felipe Melo

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  7. #2964
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    Quote Originally Posted by Broseph Stalin View Post
    So these guys can spread all this right-wing Trump propaganda but I get an infraction for trying to counteract them? Then better ban me from this forum since I won’t tolerate these idiots. And no one should
    adrossi please spare me, but, if someone had a brodelf hitler they'd be banned. That human excrement you have on your avi is not much better than brodelf hitler.
    Quote Originally Posted by bandiera View Post
    referees 'without question' favour juve? i think youre overstating the effect of buying out the refs.
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    Quote Originally Posted by CafeCordoba View Post
    Still positive that by winning the Scudetto, we can get rid of the guy.

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    Quote Originally Posted by Pimpin View Post
    adrossi please spare me, but, if someone had a brodelf hitler they'd be banned. That human excrement you have on your avi is not much better than brodelf hitler.
    its brodolf hitler
    Quote Originally Posted by .h. View Post
    i think you've forgotten the creative genius that was a midfield of Zanetti-Vieira-Cambiasso with Stankovic in front
    tiki-whati
    Quote Originally Posted by Provenzano View Post
    I think we should say - Skriniar Milan, because Milan should be in second place.

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    IL Capitano Javier Zanetti pls buy this club!
    sorry for my bad English

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    Infractions:

    It will be called Internazionale, because we are brothers of the world.


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    I sometimes miss this place

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    Quote Originally Posted by JJM View Post
    I sometimes miss this place
    You only miss Azzkikr

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    back on-topic: the Zhang family is now considering an offer from private equity fund Fortress.

    The American fund would acquire a minority stake in the club with a €250m bid.

    Reports in Italy suggest Inter and Fortress could reach an agreement by the end of the month.

    Negotiations are at an advanced stage, so much so, according to La Gazzetta dello Sport, Inter President Steven Zhang is expected to land in Milan in the coming weeks to follow talks and discuss a possible deal personally.
    Quote Originally Posted by Nothing View Post
    Plan B please
    NULLA É IMPOSSIBILE PER QUESTA SQUADRA! FORZA INTER PER SEMPRE

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    Quote Originally Posted by Pimpin View Post
    adrossi please spare me, but, if someone had a brodelf hitler they'd be banned. That human excrement you have on your avi is not much better than brodelf hitler.
    So what’s your point? Did I ever commend Stalin or any sort of communism in any shape or form? I could have your mom’s picture as my avatar for that matter but it doesn’t mean that I’m in love with her, ya know. It’s not surprise that this forum participation is dwindling when mods are okay with statements like that
    Last edited by Broseph Stalin; 15 Mar 21 at 20:26.

  21. #2972

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    Quote Originally Posted by Broseph Stalin View Post
    So what’s your point? Did I ever commend Stalin or any sort of communism in any shape or form? I could have your mom’s picture as my avatar for that matter but it doesn’t mean that I’m in love with her, ya know. No surprise that this forum’s participation is dwindling when mods are okay with statements like that
    You could just say what you mean by your avatar for that matter without mentioning his mom to try and prove ur point.

    Whats his statement exactly? that he doesn like the person in ur avatar?

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    I'm not well-versed in economics or business but doesn't 250m for a minority stake still leave us somewhat screwed? It seems like a weak option to take considering our majority shareholders can't invest into the club at all. How can we expect the club to do much needed signings during the transfer window?
    "Moggi was just a grape in a vineyard of bullshit"

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    Quote Originally Posted by TheNetworkZ View Post
    I'm not well-versed in economics or business but doesn't 250m for a minority stake still leave us somewhat screwed? It seems like a weak option to take considering our majority shareholders can't invest into the club at all. How can we expect the club to do much needed signings during the transfer window?

    If the 250m funding comes exclusively from a share capital increase, the 250m will become cash for the club.

    I'm pretty sure Suning will want to cash in a significant amount though, so the money will just exchange hands. Which leaves Inter at the same financial situation, but then they may decide to do a share capital increase and all parties will have to raise an 'x' amount. So maybe 200m will go to Suning, then they will raise 50m whilst Suning will raise 100m for this, so Inter will get this 150m figure.
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  25. #2975
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    Honestly, we're not that 'far' off being a profitable business. Last year pro forma was about a 55mil loss, mainly through loss of sponsorship, this year will be more like 100m I suspect mainly because of no season ticket/matchday revenue.

    If we make the cuts I outlined in the Financial thread, we can cut like 80mil a year of costs without TOO much impact into the first team. Clearly some of that will be reinvested into players. We can also further cut the amortisation bill. With a new shirt sponsor, triggering contractual bonuses linked to (hopefully) winning the league, and being able to sell season tickets again, we should be able to recover.

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  27. #2976
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    I also read last week that this Fortress deal would be for "preferred equity". If I understand it correctly, it's equity (shares) with no power. The catch is preferred equity gets dividends paid every year at fixed rate, no matter if dividends are paid or not to the shareholders. So owning these shares is a bit like you've given a loan and you get interest payments (in addition to the fact you own part of the company at the same time). So it will cost Inter money to get money (like a loan) but then new shares are issued to be these preferred shares?

  28. #2977
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    If there's no voting power, though, that's useful for Suning I guess. Though it might make any sale of the Fortress % hard - someone only needs to buy Suning's part to fully own the decision making power in the club (though that's fairly arbitrary if Suning only sold 30% anyway as they'd still hold majority)


    https://en.wikipedia.org/wiki/Preferred_stock

  29. #2978
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    Quote Originally Posted by CafeCordoba View Post
    I also read last week that this Fortress deal would be for "preferred equity". If I understand it correctly, it's equity (shares) with no power. The catch is preferred equity gets dividends paid every year at fixed rate, no matter if dividends are paid or not to the shareholders. So owning these shares is a bit like you've given a loan and you get interest payments (in addition to the fact you own part of the company at the same time). So it will cost Inter money to get money (like a loan) but then new shares are issued to be these preferred shares?
    Yeah, it's pretty standard for private equity deals.

    In layman's terms using football lingo, it's like a loan + option for new shares, something like that You described it rather well actually, but the shares are sort of inactive until they become active, but I'll have to dig in quite far to get this laid out.

    An important thing is that the company is typically the only one you can sell these shares to. Inter can also say that it cannot afford these payments anymore and stop paying the dividends. That will trigger the shares to be...activated. So the fund will now own common shares, rather than this type of preferred ones.


    Private equity firms will rarely invest their cash anyway, it's mostly complex loan deals.
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  30. #2979
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    Yeah, when I looked up what is preferred equity, it sounded to me too that Suning probably prefers that at this point. Selling 30% doesn't give power any way, but probably in "normal" buying case, the buyer would require to have a person or two from them in the board. With preferred equity I understood there is indeed no such thing and it's completely in Suning's control (if preferred equity would be issued).

    It's also rumored they prefer this thing now as they want to run the season down, possibly to get the title (and pot1 in CL and so on) and then look again for the buyers. Value of the club will surely go up. Maybe the shirt sponsor thing is more beneficial to get signed after the Scudetto but also it feels tome it's almost like way too late at that point? (in May)

  31. #2980
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    I’ve worked with Fortress investment group for many years both on their hedge fund and private equity sides and given the opportunistic nature of their investment thesis, I feel a bit concerned about our financials. The fact they are interested in buying a minority share in Inter would’ve been a bad signal for me in the past. But now they are owned by SoftBank and I’m sure a lot of things have changed in their operations. If someone is interested to learn more about Fortress, check this article https://www.institutionalinvestor.co...ll-of-fortress. They are actually known for their complex deal structures that involve preferred shares

    Preferred equity is what VC funds usually go for. No operational control but the highest priority in the liquidity stack. And obviously, they’re going to put their person on Inter board

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