The Suning Commerce Group

Il Drago

Moderator
Moderator
Joined
Dec 21, 2015
Messages
13,353
Likes
5,750
Favorite Player
Wes, Eriksen
Best Football Poster

Inter owner expected to honour $250 million debt, says the court​


Inter owners Suning are expected to a honour a massive debt that is due to a finance company based in Hong Kong.
This comes from Il Sole 24 Ore, who state that the Court of Justice of the Special Administrative Region of China has ordered Steven Zhang and his father to honour the $250 million debt to the Great Matrix Finance Company.

Suning boasted revenues of $347 million back in 2018 but three years on, their debt-ridden situation was bailed out by Shenzhen Municipality and Alibaba, which bought 24% of the shares. But Suning are yet to pay Great Matrix the money that they are due.

To recover the credit, banks could draw on the assets of the Suning family. The situation of the Inter owners continues to get tricky.
 

Mr-Intermilan

Primavera
Primavera
Joined
Dec 29, 2018
Messages
77
Likes
52
steven-zhang-2-2048x1365.jpg
 

CafeCordoba

Moderator
Moderator
Joined
Mar 7, 2004
Messages
29,148
Likes
2,274
Favorite Player
Bar, Skr, Bas
10 years of FIF
So Libero indeed claims that there is already a principal agreement over the sale of Inter to PIF.

I guess it depends on the stadium project, they want to have that deal signed and sealed.
 

.h.

Part time Lazarus
La Grande Inter
Joined
Jun 8, 2005
Messages
25,131
Likes
1,056
Favorite Player
Inter1-0Wanda
Old username
browha
Forum Supporter
10 years of FIF
Not sure what this means. Two "premier" clubs? Doubtful... money and prestige wise Newcastle is where it is at if you think you can break them into the top 4... that being said paying a billion for Inter makes no sense as a second tier club
 

Universe

Moderator
Moderator
Joined
Jan 27, 2009
Messages
25,680
Likes
2,319
Forum Supporter
10 years of FIF
Best Overall Poster
Most Humorous Member
Most Diverse Poster

Il Drago

Moderator
Moderator
Joined
Dec 21, 2015
Messages
13,353
Likes
5,750
Favorite Player
Wes, Eriksen
Best Football Poster
Libero: Suning would be ready to sell Inter to the Saudi PIF for €1 BILLION. There are whispers of a meeting that took place in Milan in September between the leaders of Inter and some emissaries of PIF, who landed in Italy to file the details of the negotiation, as well as witnessing the defeat of Inter against Real Madrid in the Champions League.

I would like to wait for more reliable sources (Il Sole, Milano Finanza, Biasin, Sky, even Gazzetta) before taking this seriously.

Not sure what this means. Two "premier" clubs? Doubtful... money and prestige wise Newcastle is where it is at if you think you can break them into the top 4... that being said paying a billion for Inter makes no sense as a second tier club

I also find it hard to believe the prospect of PIF buying two "premier" clubs at the same time. It would also be hard for both clubs to play in CL. Red Bull found a way around the rule in order for Salzburg and Lepzig to play in CL (and even faced each other!) thanks to 50+1 rule in Bundesliga. But i guess money makes the world go round and UEFA are corrupted as hell so they would probably find a way around it as well.

Regarding Newcastle, they are in a bigger market where the income is a lot bigger but it will also require require huge investments to make them competitive. On the other hand, Inter are already competitive in their league so they would simply have to keep them in a similar level. Imo if Saudis get involved at Inter, they will do it for the prospect of a new stadium. I can't see any other reason why they would be willing to do it after getting Newcastle.
 
Last edited:

.h.

Part time Lazarus
La Grande Inter
Joined
Jun 8, 2005
Messages
25,131
Likes
1,056
Favorite Player
Inter1-0Wanda
Old username
browha
Forum Supporter
10 years of FIF
Buying Inter to build a new stadium somewhat implies to me looking it as a short term investment- manage the risk of getting a stadium and then overseeing the construction and measure the benefits before selling? But it doesn't seem to be enough return to justify the spend to me.

That being said, Inter for 1 billion doesn't make sense as a second fiddle to Newcastle for 300m..

I dunno. All seems a bit weird. For financial reasons and stuff I'm sure the English side would be more attractive
 

CafeCordoba

Moderator
Moderator
Joined
Mar 7, 2004
Messages
29,148
Likes
2,274
Favorite Player
Bar, Skr, Bas
10 years of FIF
PIF's point of owning football clubs is to polish the image of Saudi state. There is no other incentives. To get to the circles and you get to the circles if you own a football club. If you own two, it's even better, you are even more powerful.

Buying into Inter makes sense as Inter is a club served on a silver platter. Already in CL and a domestic champion. It's a like fastlane for the saudis. The price isn't absurd like many billions because of the debt and limited ability to generate money. However Saudis' motivation is not to make money out of the club so it's not even relevant.

Newcastle is a lot longer project, competition is fierce in EPL and they need to build structures in the organization to make them competitive, even top4 hopes. That will take years.
 

Il Drago

Moderator
Moderator
Joined
Dec 21, 2015
Messages
13,353
Likes
5,750
Favorite Player
Wes, Eriksen
Best Football Poster
Buying Inter to build a new stadium somewhat implies to me looking it as a short term investment- manage the risk of getting a stadium and then overseeing the construction and measure the benefits before selling? But it doesn't seem to be enough return to justify the spend to me.

That being said, Inter for 1 billion doesn't make sense as a second fiddle to Newcastle for 300m..

I dunno. All seems a bit weird. For financial reasons and stuff I'm sure the English side would be more attractive
I agree. Though we are making the mistake to see it from a business perspective. We are talking about sovereign funds. No one really knows what their true motives are.
 
  • Like
Reactions: MVD

DARi0

Allenatore
Allenatore
Joined
Mar 20, 2007
Messages
8,589
Likes
929
Favorite Player
Hakimi
10 years of FIF
PIF has just acquired 80% of the shares in the Premier League club for circa €350m and according to Libero newspaper, talks between Suning and the Saudi investment fund are at an advanced stage.

Negotiations with Suning had begun last year, but were put on hold with the announcement of the Super League in April. Now, the two parties are negotiating again and, according to the report, there was a meeting on September 15, on the same day of Inter’s Champions League clash against Real Madrid.

An offer in the region of €1 billion is on the table and the Zhang family is reportedly ‘tempted’ to accept it given the dire financial situation of Suning and, therefore, the Serie A club.

However, La Repubblica correspondent Franco Vanni provided an update on Twitter, writing that sources close to the club deny Inter will be sold.
“Some say ‘there is nothing’ while others go with: ‘Perhaps it’s just a rumour to push the Newcastle deal,'” Vanni wrote.

Earlier in May, Suning completed a financing operation for a €275m loan from Oaktree Capital for Inter, with three years to pay it back.

> To be honest I doubt that the chinese want to sell, otherwise it may have already happened. I just hope this won`t bring us down in case the situation persists.
 

.h.

Part time Lazarus
La Grande Inter
Joined
Jun 8, 2005
Messages
25,131
Likes
1,056
Favorite Player
Inter1-0Wanda
Old username
browha
Forum Supporter
10 years of FIF
PIF's point of owning football clubs is to polish the image of Saudi state. There is no other incentives. To get to the circles and you get to the circles if you own a football club. If you own two, it's even better, you are even more powerful.

Buying into Inter makes sense as Inter is a club served on a silver platter. Already in CL and a domestic champion. It's a like fastlane for the saudis. The price isn't absurd like many billions because of the debt and limited ability to generate money. However Saudis' motivation is not to make money out of the club so it's not even relevant.

Newcastle is a lot longer project, competition is fierce in EPL and they need to build structures in the organization to make them competitive, even top4 hopes. That will take years.
But as posted elsewhere it'd take some real Uefa fuckery to gave both clubs competing in the CL and surely that's the ambition for Newcastle?
 

Sokrates

Allenatore
Allenatore
Joined
May 2, 2010
Messages
6,801
Likes
7
Favorite Player
Schneckerl
Forum Supporter
10 years of FIF
when was the last time this clown was in Italy?
 

brehme1989

La Grande Inter
La Grande Inter
Joined
Jan 17, 2005
Messages
26,180
Likes
2,099
10 years of FIF
Most Serious Member
Most Stubborn Poster
There definitely was interest by PIF in the past, but if there's something new that's only for a handful of people to know and I doubt a journalist would have that information.
 

Adriano@10

Allenatore
Allenatore
Joined
May 22, 2004
Messages
7,812
Likes
117
Favorite Player
Oba
10 years of FIF
But as posted elsewhere it'd take some real Uefa fuckery to gave both clubs competing in the CL and surely that's the ambition for Newcastle?
This unless that rule of two clubs by the same owner not being allowed in the CL has been removed this rumor makes no sense.
 
Top