Inter’s owners Suning will have to pay the Premier League a £157m payout following a court case related to TV rights.
Suning own PPTV, who agreed a three-year deal to stream all 380 Premier League games in China from 2019 to 2022 back in 2016. They paid 12 times more than previous rights holders Super Sports Media.
PPTV failed to pay the first instalment of £257m and in March 2020 they failed to pay their second instalment of £160m, citing financial issues. The deal was terminated six months later and the matter went to court.
Suning have faced significant financial issues throughout the COVID pandemic and in March 2021 they dissolved their Chinese Super League team Jiangsu FC. Last summer they also sold Inter stars Romelu Lukaku and Achraf Hakimi in order to balance the books.
The Chinese conglomerate have been in talks about selling the club in recent months, but no significant progress has been made yet. The company did announce recently that “the debt problem at our group has gradually stabilised”, suggesting that they could be in a position to pay the payout to the Premier League.
Premier League wins £157million payout from Inter Milan owners over disastrous TV deal
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— Mirror Football (@MirrorFootball) January 11, 2022
First it was the Asians to be he saviors of football. Every team willing to sell their soul. Also the Russian money. Now that China has cracked down on all this money flowing out of the country, It looks like they are turning to the Arab petrodollars to save their mismanagement. Just admit that the game has grown out of hand financially. Get back to fair salaries,for players and coaches, and local ownership. Fair distribution of television rights. And Serie A should be no more than 16 clubs. The greed of FIFA, UEFA, and the national leagues is ruining the sport. And the MLS in the USA are following down the same path. Hold those that are mismanaging these teams accountable. Stop them from try to buy trophies. More power to the so called provincial clubs that are run like a business and can still be competitive.
Good points Villarusso. I’d also add the idea of having a World Cup every two years. I believe that would be the final nail on the coffin of football, ruined by greed.
Agree with you Villarusso. Maybe it’s time to bring in a salary cap of some kind as salaries and transfer amounts are obscene in a world where millions are starving and many more living in poverty.
There are many things that can be done.
Look at Dortmund. Out of nothing significant year by year they buillt a team financially stronger than Juve.
If Milan clubs followed that model (ACM does now) they would compete in Europe no problem.
As for wages its like everywhere. Top are obscene and too much. On the other hand Kessie was making 50 a week few years ago. Messias delivered pizza.
What a breath of fresh air from villarusso, these foreign companies have destroyed the game for the love of $$$$ and not the love of the game. I would love nothing more than to see more local / fan based ownership of clubs similar to the bundesliga model