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Inter Milan were awarded the 19th Scudetto title and their first since their 2010 hat-trick in April. They deposed Juventus as champions of Italy after the end of their nine-year career. However, the trip to the top of Italian football was painful and interesting for Inter. Most importantly, this is the first major trophy under the stewardship of the Chinese owners, so let’s dive into this property at one of Italy’s biggest clubs.
In 2016, the Suning Holdings Group, owned by Chinese billionaire Zhang Jindong, acquired a majority stake in intermilan Of the Thohir International Sports Capital SpA consortium and the remaining shares of the Moratti family in Internazionale Holding Srl Zhang is also the co-founder and chairman of Suning Commerce Group. The Chinese company invested nearly 270 million euros and subsequently acquired 68.55% of the shares in the club.
After some modest seasons with different managers, there was another adjustment in Inter’s ownership in 2019. Hong Kong’s LionRock Capital reached an agreement with Inter to acquire 31.05% of its shares to become the new minority shareholder in the club.
The new property did not bring about a change of fortunes on the pitch as Inter were struggling and kept switching managers before Antonio Conte was appointed in 2019 with a three-year contract. Inter started knocking on the door as they finished second in the Italian League table in 2019/20. They finished one point behind winners Juventus, who won the first division. Moreover, they also lost to Sevilla 3-2 in the Europa League final.
Even the 2020/21 season did not do well for Inter in Europe as they finished fourth in the group stage of the Champions League. However, they eventually managed to grab the league title. The victory in Serie A came at a price. Inter spent nearly 200 million euros on upcoming transfers in 2020. The biggest transfer expense in the deal that brought Romelu Lukaku to the club came from Manchester United in the Premier League, paying a total of 74.162 million euros to the Belgian striker. The Italian club’s biggest deal was for Niccolo Barrilla of 40.5 million euros. Christian Eriksen arrived from Tottenham Hotspur in January 2019 for € 27 million. Apart from these big deals, Inter agreed to sign several experienced players for Conte. These deals are beneficial to the success of Inter, as Lukaku formed a wonderful partnership with Lautaro Martinez, as the duo scored 57 goals, providing them with an offensive motivation to blow up other teams in the league. (Courtesy stats: Transfer Market)
Trouble in Suning Paradise
In March 2021, the Suning Appliance Group decided to close a football club Jiangsu Football Club In Jiangsu, he raised concerns that in order to reduce the company’s debt they could turn into more valuable assets in Inter Milan.
The Jiangsu Football Club, owned by Suning since 2015, has confirmed that it will cease operations, without going into details. Shenzhen International Holdings Ltd and Shenzhen Kunpeng Equity Investment Management Co planned to buy 8% and 15% of Suning.com shares respectively, paying a total of $ 2.3 billion. Despite its 63-year history, Chinese champions no longer exist as it was seen as a liability to the Chinese company.
According ForbesSuning sold 23% of the company’s shares to state-owned investors to improve the stock structure. The company has also been reported to be negotiating with BC Partners to sell shares of Inter Milan, but there has been no tangible breakthrough so far. Moreover, Italian media also reported that Suning is in talks with two companies, Bain and Oaktree Group, for a loan to deal with losses generated during the pandemic. According BloombergInter Milan has a total debt of $ 602 million.
Bayern have Achraf Hakimi on their list and are already planning to complete his signature. Hakimi may be tempted to return to Germany and consider joining Bayern Munich. A mass exit for Inter players is expected due to the club’s economic needs [@mundodeportivo] pic.twitter.com/sXdd7QcLgy
– Bayern and Germany (iMiaSanMia) May 15, 2021
Meanwhile, Inter Milan vice president Javier Zanetti recently confirmed that due to the loss of the sponsor and entered match day, the club’s finances had been greatly affected. Although winning the Italian League is a moment to cherish the fans, mismanagement by Suning Group may indicate that Inter will need to train a prodigy with limited funds to achieve continued success. If there is an exodus in the summer, it will be difficult to see Antonio Conte staying at the club. There are celebrations in Milan and rightly so, but the future at the club doesn’t look promising yet.
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