The Suning Commerce Group

[.h.]

No, that's a secondary thing. Their first links were with Newcastle.

If they got in touch with Inter, and turned us down because of the price, then we can talk. But they went and tried to buy Newcastle *long before* they registered any interest in Inter.

They were buying Newcastle as early as April 2020 - https://en.wikipedia.org/wiki/2021_takeover_of_Newcastle_United - and that's just what is publicly known (e.g. they applied for the Fit and Proper Persons test, which would be fairly late stage I assume such as after negotiating a price).

Unless you have some inside knowledge, as far as I'm aware, PIF conversations were like Feb 2021.


The earliest news article linking them to us is https://sempreinter.com/2021/03/03/...-buy-inter-from-suning-italian-media-reports/ March 21. I odnt remember much from earlier than that.

 

[Candreva Crosses]

I wish I could sell my trash can for hundred of dollars, I invested so much time and money into it and instead I have to throw away the trash and pay money at the same time for the company who takes the trash

 

[.h.]

I wish I could sell my trash can for hundred of dollars, I invested so much time and money into it instead I have to throw away the trash and pay money at the same time for the company who takes the trash

Our squad market value is, right now, transfermarkt-wise, 525mil euros. I think (our investor relations page is down right now so not sure) we had something like 350mil cash in the bank with the Oaktree loan.

We've got about 500mil of debts coming due.

We've got forward revenue and liabilities, as well as (I assume??) some property, etc.

If the buy-out is that Zhang takes on the 500mil of debt, then the net equity ignoring debt of Inter is probably more than 1 billion euros.

 

[Candreva Crosses]

Our squad market value is, right now, transfermarkt-wise, 525mil euros. I think (our investor relations page is down right now so not sure) we had something like 350mil cash in the bank with the Oaktree loan.

We've got about 500mil of debts coming due.

We've got forward revenue and liabilities, as well as (I assume??) some property, etc.

If the buy-out is that Zhang takes on the 500mil of debt, then the net equity ignoring debt of Inter is probably more than 1 billion euros.

Is the loan on Zhang or on Inter as the company? Do we have any information with proof of the bids made by the company who was interested before PIF, I don't remember the name. Did PIF make any official bid?

Do Zhang want to sell the club becuase of economic issues at home? Do they even want to sell? Do they afford to keep the club? Who continues owning a club instead of taking the loss so they can move on? Will keeping Inter make them lose more money?

 

[.h.]

Is the loan on Zhang or on Inter as the company? Do we have any information with proof of the bids made by the company who was interested before PIF, I don't remember the name. Did PIF make any official bid?

Do Zhang want to sell the club becuase of economic issues at home? Do they even want to sell? Do they afford to keep the club? Who continues owning a club instead of taking the loss so they can move on? Will keeping Inter make them lose more money?

I'm not entirely clear, tbh. Either way, though, itis not uncommon to work out the debt in the transaction. I believe when Moratti sold Inter, he left the debt with the club, whereas I think when Thohir sold Inter, he assumed the debt?


Could be wrong.


RE other questions

No idea on other bidders or a formal PIF bid. I wouldnt claim any inside knowledge beyond what we see in the media.

 

[Candreva Crosses]

I'm not entirely clear, tbh. Either way, though, itis not uncommon to work out the debt in the transaction. I believe when Moratti sold Inter, he left the debt with the club, whereas I think when Thohir sold Inter, he assumed the debt?


Could be wrong.

I updated my post. If selling Hakimi was because of the debt then the debt should be within Inter since according to some Zhang's has never taken out money from the club? If the club has 500m of debt. It means someone spending 500m to buy Inter they would have to pay another 500m to pay the debts? Do Zhang wants the 1B and to leave the debts?

"Do Zhang want to sell the club becuase of economic issues at home? Do they even want to sell? Do they afford to keep the club? Who continues owning a club instead of taking the loss so they can move on? Will keeping Inter make them lose more money?"

I feel like these questions is very important to understand Zhangs position. At the same time if they keep Inter, will the club be in limbo? The part where IF we will be in a limbo is where I mean they are fucking the fans over.

 

[.h.]

I updated my post



I feel like these questions is very important to understand Zhangs position. At the same time if they keep Inter, will the club be in limbo? The part where IF we will be in a limbo is where I mean they are fucking the fans over.

Honestly, I dont think anyone can claim any inside knowledge into what the Zhangs are thiinking. Either way, this club needs to be financially capable of standing on its own two feet (COVID aside). They've taken great strides towards that in the last few years, more so than we've ever been under Moratti or Thohir.

You need to remember in the next couple of years our amortisation bill can drop substantially, and with some reasonable CL progress, etc, route to profitability isnt impossible.

 

[Candreva Crosses]

Honestly, I dont think anyone can claim any inside knowledge into what the Zhangs are thiinking. Either way, this club needs to be financially capable of standing on its own two feet (COVID aside). They've taken great strides towards that in the last few years, more so than we've ever been under Moratti or Thohir.

You need to remember in the next couple of years our amortisation bill can drop substantially, and with some reasonable CL progress, etc, route to profitability isnt impossible.

One thing is sure, if they really need to sell the club and didn't go below their asking price which we don't know, then they must be really sure of finding it possible to sell the club in the future.

 

[.h.]

I dunno.

What I would love is more transparency - if they could share what their plan to profitability is, for exmple, or if they really are holding out for a buyer.

With stadia reopening to 100% aand some cost reduction, and stable sponsors, I think we could be cost neutral as a club, which is a great thing to strive for. If they can achieve that, then the ownership matters less.

 

[CafeCordoba]

No, that's a secondary thing. Their first links were with Newcastle.

If they got in touch with Inter, and turned us down because of the price, then we can talk. But they went and tried to buy Newcastle *long before* they registered any interest in Inter.

They were buying Newcastle as early as April 2020 - https://en.wikipedia.org/wiki/2021_takeover_of_Newcastle_United - and that's just what is publicly known (e.g. they applied for the Fit and Proper Persons test, which would be fairly late stage I assume such as after negotiating a price).

Unless you have some inside knowledge, as far as I'm aware, PIF conversations were like Feb 2021.


The earliest news article linking them to us is https://sempreinter.com/2021/03/03/...-buy-inter-from-suning-italian-media-reports/ March 21. I odnt remember much from earlier than that.

Inter was not in sale until last winter. So there wasn't a scenario where PIF could have been interested in Inter. Funds do not approach clubs out of nowhere if there is no knowledge they are up for sale. Ashley has been trying to sell Newcastle for quite some time. It's not an evidence of anything that PIF was interested in Newcastle much earlier.

 

[.h.]

Inter was not in sale until last winter. So there wasn't a scenario where PIF could have been interested in Inter. Funds do not approach clubs out of nowhere if there is no knowledge they are up for sale. Ashley has been trying to sell Newcastle for quite some time. It's not an evidence of anything that PIF was interested in Newcastle much earlier.

yeah exactly. Inter was only ever a 2nd choice - it wasnt 1st choice but got turned down because of the owner's price.

 

[brehme1989]

yeah exactly. Inter was only ever a 2nd choice - it wasnt 1st choice but got turned down because of the owner's price.

Inter was first choice when it was up for sale.

When it was deemed that an agreement could not be reached, PIF returned to Newcastle as an option and closed the deal.

 

[CafeCordoba]

yeah exactly. Inter was only ever a 2nd choice - it wasnt 1st choice but got turned down because of the owner's price.

No, Inter was not a choice at all. When Inter became up for a sale, PIF got interested. No idea about their preferences but we cannot say Inter has been their 2nd choice as Newcastle has been their target for a long time compared to Inter who has been on sale only for less than an year. There cannot be no interest to a club which is not for sale.

 

[CafeCordoba]

As a side note, Suning has sold its League of Legends esports team to Weibo.

 

[Candreva Crosses]

Was it above their asking price?

 

[.h.]

No, Inter was not a choice at all. When Inter became up for a sale, PIF got interested. No idea about their preferences but we cannot say Inter has been their 2nd choice as Newcastle has been their target for a long time compared to Inter who has been on sale only for less than an year. There cannot be no interest to a club which is not for sale.

You can call it how you want, but ultimately, they were focused on buying Newcastle; when that got rejected, they moved on to Inter.

There was no world where there was a direct Inter vs Newcastle option, and we won. The only thing we do have is that they tried to buy Newcastle long before Inter, may have have briefly explored Inter options, and then reverted to buying Newcastle once legal challenges were resolved.


And, again, its not like they were even exploring other options in Serie A, which would make sense if they liked the legue but didn't arrive to a price with our club. They were blocked from making *any* move in Premiership because of the Fit and Proper Persons test.



If they wanted a Serie A club over a Premiership one, they'd have one. Simple as that IMHO.



As explained above, 1 billion for Inter is actually really not that bad if debt is excluded from that price. Especially in April/May when we had Hakimi, Lukaku, and were winning the league.

 

[CafeCordoba]

Was it above their asking price?

No idea, but probably not too much given what kind of a scam esports is as a business.

 

[PHM1605]

According to CdS, Marotta and Ausilio want to sign 3-year contract while Zhang only wants 2 (that is when their Oaktree loan expires)

If that is true, well, does anyone still think Suning cares for Inter?

 

[.h.]

Hes probably expecting them to refuse to work and get a big pay out like Conte...?

 

[qb4ever_2k]

I fail to link the 2 year contracts with the maturity of the loan with Suning not caring? What is the connection here?

Suning obviously doesn't care, they've got much bigger shits to sort out right now, but this has nothing to do with it.