Inter receive €100M in revenues from Suning and its four partners
Inter, after announcing Steven Zhang as the club’s youngest president, think about the future, one that is closely linked to Chinese sponsors. About €100M euros of the current revenues come from the homeland of Suning.
“This sum guaranteed by Suning is due to its naming rights of Pinetina and other brand sales related to training plus four other companies: Beijing Yixinshijie, King Dawn Investments (also known as King Mother), Beijing Media Advertising and Fullshare Holdings. The latter company paid an initial signing fee of €3.25M to Inter and will pay €10M annually until June 30, 2020. Fullshare Holdings, which is headquartered in Nanjing and is registered in Hong Kong and the Cayman Islands, has China Huarong as its second shareholder. This is the bank that was linked to the controversial acquisition of Milan by Yonghong Li.
“China Huarong (ended up under the magnifying glass of Beijing authorities last spring) controls almost 20% of Fullshare Holdings. The majority shareholder with almost 50% is Chinese billionaire Ji Changqun. The company on its homepage defines itself as the Official Educational Partner of Inter.”
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Suning is here for the long haul, with the goal of bringing Inter to the peak of European football. In order for that to happen, the club must get rid of the narrowest bridge of it all: the UEFA FFP. This goal, fortunately, could be very soon on the horizon according to analysis of Ultimo Uomo (site owned by Sky).
“Every worry from the financial point of view is unfounded: as long as Suning remains in command of Inter, and the appointment of Steven Zhang as president seems to confirm this, the club rests on solid foundations that do not put it at risk its business continuity.”
Money collected from the Champions League - “In the meantime, thanks to the return to the Champions League, together with results obtained and stadium revenues, all factors will increase revenues of 2018-2019 season by at least €55M.”
So the question is, when will Inter be able to leave the Settlement Agreement with UEFA?
“Inter, given the results obtained, should leave UEFA restrictions imposed by Settlement Agreement during this season and next summer, the team should not be forced to do the mad rush to make capital gains.”