The Suning Commerce Group

[brehme1989]

have they? I'm not too familiar with their books, far as I know they lost money in covid obviously but before that werent an issue? happy to be wrong..

A lot of it is indirectly via FSG, but iirc they also did several minor deals (less than 1%) over the years, which accounts for a lot of money, but obviously it's not what they live on. But it's welcome to them, otherwise they wouldn't be doing it.

 

[Il Drago]

Suning Holdings Group Owner Zhang Jindong: “Debt Situation At Company Has Stabilized”​

Zhang Jindong, owner of the Holdings Group for Inter owners Suning, has confirmed that the debt situation at the Chinese company is stabilizing.

Writing in his annual letter to investors at the company, the Suning founder explained that the company is dealing with the debt and liquidity issues which they have faced especially since the pandemic began.

Suning have been dealing with debt problems for some time, which have been part of the reason why the company has not been able to invest in the Nerazzurri who have faced their own financial woes.

The debt and liqudity problems at both Inter and Suning only intensified during the pandemic, which resulted in the Nerazzurri needing to make significant player sales over the summer in order to keep things financially secure.

The continued viability of Suning’s ownership of the Nerazzurri has been in some question due to the financial problems at the company, as well as with the Chinese government’s regulations against investment in sport.

It remains to be seen what the effects of this upturn in the Chinese company’s fortunes will be for Inter, but for now at least there may be one less factor restricting the club financially as Suning’s debt situation stabilizes.

Zhang writes that “With the support of the Chinese government and through our continuing efforts, the debt problem at our group has gradually stabilized, and Tesco’s operations are also recovering in an orderly manner.”

 

[Superminion]

Suning Holdings Group Owner Zhang Jindong: “Debt Situation At Company Has Stabilized”​

Zhang Jindong, owner of the Holdings Group for Inter owners Suning, has confirmed that the debt situation at the Chinese company is stabilizing.

Writing in his annual letter to investors at the company, the Suning founder explained that the company is dealing with the debt and liquidity issues which they have faced especially since the pandemic began.

Suning have been dealing with debt problems for some time, which have been part of the reason why the company has not been able to invest in the Nerazzurri who have faced their own financial woes.

The debt and liqudity problems at both Inter and Suning only intensified during the pandemic, which resulted in the Nerazzurri needing to make significant player sales over the summer in order to keep things financially secure.

The continued viability of Suning’s ownership of the Nerazzurri has been in some question due to the financial problems at the company, as well as with the Chinese government’s regulations against investment in sport.

It remains to be seen what the effects of this upturn in the Chinese company’s fortunes will be for Inter, but for now at least there may be one less factor restricting the club financially as Suning’s debt situation stabilizes.

Zhang writes that “With the support of the Chinese government and through our continuing efforts, the debt problem at our group has gradually stabilized, and Tesco’s operations are also recovering in an orderly manner.”

So, milenkovic savic & vlahovic in January window is possible now?

 

[Corrode]

https://twitter.com/x/status/1468339832305123328

it isn't last long. i hope Suning agrees selling Inter soon to new owner, as long as the new owner wont from Asian, it's good. Hopefully the new owner understand football and have a well-managed plan to execute that. enough Inter's and Valencia's case.

 

[Harpsabu]

Suning Holdings Group Owner Zhang Jindong: “Debt Situation At Company Has Stabilized”​

Zhang Jindong, owner of the Holdings Group for Inter owners Suning, has confirmed that the debt situation at the Chinese company is stabilizing.

Writing in his annual letter to investors at the company, the Suning founder explained that the company is dealing with the debt and liquidity issues which they have faced especially since the pandemic began.

Suning have been dealing with debt problems for some time, which have been part of the reason why the company has not been able to invest in the Nerazzurri who have faced their own financial woes.

The debt and liqudity problems at both Inter and Suning only intensified during the pandemic, which resulted in the Nerazzurri needing to make significant player sales over the summer in order to keep things financially secure.

The continued viability of Suning’s ownership of the Nerazzurri has been in some question due to the financial problems at the company, as well as with the Chinese government’s regulations against investment in sport.

It remains to be seen what the effects of this upturn in the Chinese company’s fortunes will be for Inter, but for now at least there may be one less factor restricting the club financially as Suning’s debt situation stabilizes.

Zhang writes that “With the support of the Chinese government and through our continuing efforts, the debt problem at our group has gradually stabilized, and Tesco’s operations are also recovering in an orderly manner.”

Why does he mention tesco? I imagine obviously different to the Tesco here?

 

[.h.]

Why does he mention tesco? I imagine obviously different to the Tesco here?

it'll be the tesco subsidiary in china, which i assume was divested in recent years much like tesco thailand and korea (IIRC). part of the deal will be to retain the use of the name and branding.

 

[Il Drago]

With Inter Milan acquisition, Saudi Arabia Is Becoming A Major International Football Player​

In the coming days, while the legal paperwork reaches Inter Milan headquarter in Italy, a “game-changer” announcement will be made. Saudi Arabia Public Investment Fund (PIF) will acquire the prestigious Italian soccer team Inter Milan. The “Nerazurri,” which is how the Italian team is known in Italy should be acquired for an astonishing $1 billion and the PIF will be the largest shareholder of the Club. PIF is one of the largest Sovereign Wealth Fund with approximately $400 billion under management and with investment across 13 sectors.

The main reason behind the team’s sale is its financial distress. It is well known that the Chinese owners, the Suning Holdings Group which acquired the soccer team in June 2016 have been actively looking for an investor to join them since 2019 to absorb some of the pressure. The Chinese owner’s control 70% of the team shares, and under their leadership Inter did well as a team winning the national league in 2020. However, Inter did very poorly financially and lost $320 million dollars just in 2020-2021. As of now, Inter Milan continues to lose about $15 million dollars per month and despite winning the scudetto (the national league) last year, it was forced to sell two of its best players, Belgian striker Romelu Lukaku and Moroccan Achraf Hakimi, allowing the Chinese owners to recoup $150 million. They also let go of the team’s manager, Antonio Conte, the Italian superstar who brought the national title to Inter after 11 years.

Generally speaking, it is no secret that Italian soccer teams have been desperate to attract new investors as their balance sheet declined, and with the pandemic keeping the fans away from stadiums some of Italy most successful clubs like Inter Milan, Juventus, and Rome have accumulated unsustainable level of debt. This debt became the catalyst for the acceleration of investments in the Italian soccer. As there was mentioned in another article of Nov 2021, over the last 3 years, North American investment funds became the lead shareholders of 6 Serie A Italian team out of a total of 20, pouring billions of dollars into Italian soccer and buying these teams at very attractive financial valuations.

The Saudi acquisition of the Nerazzurri, one of the most prestigious teams in the world, marks the PIF’s second major football club acquisition after Newcastle United (UK Premier League) which was completed in October 2021. This makes Saudi Arabia a more competitive sports champion within the Gulf Cooperation Council (GCC) region, given that the UAE and Qatar have been in the soccer business for a much longer time through their acquisitions of Manchester City and Paris Saint Germain (PSG) respectively. Under Crown Prince Mohammed Bin Salman (MBS), Saudi Arabia has followed its neighbors and embarked on a similar economic development strategy which includes billion-dollar investments in sports, entertainment, and tourism seeking to leverage the powerful brand equity of these sport’s clubs.

What are Saudi’s objectives?​

Andrea Zanon, International Tech, Sport, ESG Advisor who has advised over 15 Minister of Finance in the Middle East and international corporation on growth strategies, comments:

Under the leadership of Crown Prince MBS, Saudi Arabia is diversifying its economy aggressively. With Inter acquisition, which adds to the potential acquisitions of the French team Marseille, as well as of an undisclosed Brazilian top tier team, KSA aims to become a major player in international football. These teams’ acquisitions are also in line with the strategic investment prioritized by MBS vision 2030 (the vision selected 13 sectors including soccer, entertainment, and tourism), which is the blueprint of KSA economic vision and transformation. Simply put, PIF is leveraging its massive liquidity generated by oil revenues, to diversify the Saudi economy away from hydrocarbons and invest in sport, tourism, and entertainment among others. This would have been unthinkable prior to Crown Prince MBS taking over in 2017 and once this acquisition is public, Inter Milan will become the richest team in the World. Furthermore, under the partnership with the KSA, through Inter Milan, Italy can think big and regain the international soccer prestige it has lost over the years.

With Inter Milan acquisition, Saudi Arabia Is Becoming A Major International Football Player

Saudi Arabia Public Investment Fund (PIF) will acquire the prestigious Italian soccer team Inter Milan.

www.ibtimes.com

Has anyone heard of this source before? Are they to be taken seriously?

 

[brehme1989]

I've seen them around, they're a news site but no clue if they're a primary source or just a media parrot.

 

[.h.]

I'd be kinda shocked if its true - but the rest of their website seems reasonably legit.

It just makes no sense. No other clubs have two potentially gold/platinum tier clubs - I could maybe see it in 2-3 yearas time, but right now, they need to focus on Newcastle.

It just seems like the QAnon shit all over again, trump will take over again in Jan 6th on the anniversary etc etc. Its all rubbish.

 

[.h.]

checked our favourite friend on twitter:

https://twitter.com/kellosamuel

after weeks of being adamant it was like 2 days away, he's now saying its postponed to march


Just remember, guys, just because someone is adamant they have some inside information and write with perceived authority, doesn't mean its true. Only give credence to people who have a history of giving predictions which actually come true.

 

[CafeCordoba]

International Business Times seems a legit news publication but really don't know how their credibility goes (ie. their ability to filter out BS news in their process)

SPECIALLY as the writer of that article is IBT Contributor. Couldn't even put a name on it.

It could be fucking kellosamuel

 

[Ayalon]

Unnamed contributor? Pass.

 

[Kev9Inter]

International Business Times seems a legit news publication but really don't know how their credibility goes (ie. their ability to filter out BS news in their process)

SPECIALLY as the writer of that article is IBT Contributor. Couldn't even put a name on it.

It could be fucking kellosamuel

The comments are from someone called Andrea Zanon.

 

[Nero Indigo]

Just when I thought this rumour was done. Give us fans a break mannn.

 

[CafeCordoba]

Ben Jacobs denying it again.

https://twitter.com/x/status/1475952771371253761

 

[vex]

I don't know where some of these journalists get their confidence about this deal. Just month ago the blonde lady who is close business partner with saudis pissed all over seria a and potential inter take over. For any reasonable person, the story ended there.

 

[crzdcolombian]

I know people love to hate the Chinese but what more do you want from current ownership people? Covid completely FKd Barcelona !!! Completely fkd everyone not in the EPL with their insane tv revenue deal. Yet we have improved during this time. Spent a crap ton to bring in Lukaku and Conte. He was a cnt.... and then they paid to get him to leave.People wanted something dumb like Mourinho and they got us a better coach that has us in 1st. We sold our best 2 players for record amounts.... yes we all wish we had kept Hakimi.

I don't want an owner who owns an other team that might use us a feeder club. Their prize jewel will be New Castle United not Inter.

They buy us and we will just feed Newcastle players.

 

[TheNetworkZ]

Covid is not what "completely fucked" Barcelona

 

[Capo]

With Inter Milan acquisition, Saudi Arabia Is Becoming A Major International Football Player

Saudi Arabia Public Investment Fund (PIF) will acquire the prestigious Italian soccer team Inter Milan.

www.ibtimes.com

Has anyone heard of this source before? Are they to be taken seriously?

This got me hard.....Is it actually happening?

 

[qb4ever_2k]

The comments are from someone called Andrea Zanon.

From QAnon going all the way to ZAnon