Local journalist Turki Al Ghamdi provided an update on Investcorp’s negotiations for Inter, highlighting how ‘everything now depends on Zhang’.
The Bahraini investment group are willing to pay up to €1.3 billion for the Nerazzurri, the valuation set by owners Suning. The Chinese company have been rocked by financial issues since the COVID pandemic and will have to pay back Oaktree upwards of €300m by May 2024, making a sale before then a realistic possibility.
Inter president Steven Zhang has been hesitant to sell the club in the recent past, but things could be different this time as Investcorp push to try and agree a deal. Due diligence checks were started earlier this month and further steps could be taken in the coming weeks.
Speaking on pages 12 and 13 of today’s Tuttosport, Al Ghamdi first provided some context behind Investcorp.
“I confirm that negotiations are continuing. Investcorp is a company with several investors, including Mubadala Investment Company which holds 20%, founded in 1982 by the late Nemir Kirdar.
“Among the fund’s most prestigious successes is that of bringing Gucci back to success when it was close to bankruptcy.
“Now its executive chairman is Mohammed Mahfoodh Al Ardhi, a special man with great goals, a lover of football and Sardinia, where he has often been on holiday.
“Our community knows the fund very well, they know they have a great and prosperous future ahead of them, as they have never failed in any project they have decided to get their hands on.”
He touched on the figures being discussed in the negotiations.
“About €1.3 billion should be allocated for the purchase of Inter, although now clearly Zhang will have to be convinced to sell.
“Investcorp’s subsequent profit will come from developing the team and achieving local and international success.
“It will be crucial to have our own stadium to enjoy huge annual revenues, as is the case with other top clubs in the world.”
The journalist explained why Investcorp are so interested in purchasing Inter.
“The fund has several assets scattered around the world, which are currently being managed positively. Some time ago the decision was made to acquire a football club as a new asset to add to the portfolio.
“Now the choice has fallen on Inter because they are considered a suitable team for investment, with a large fan base and current ownership that, due to debt, will have to sell. Inter have an important history and are one of the most prestigious clubs in the world.
“If an owned stadium were built, the revenues would be gigantic. On the other hand, look at how much Premier League clubs cost, the prices are very high.
“Think of Manchester United and you will understand why Inter is a very attractive option at the moment. As Milan probably was too, but with Elliott it wasn’t concluded.”
Finally, Al Ghamdi suggested that Inter would be given significant resources to work with in the transfer market under Investcorp.
“Now everything depends on Zhang, after the recent contacts with brokers and possible investors. Investcorp would guarantee a splendid future for the Nerazzurri.
“Here in the Arab countries, there are many true Inter fans who follow the team with passion. Investcorp’s target would be to win everything, domestically and internationally.
“So, the focus would be on hiring and signing great players to achieve the set goals.”
Imagine being pleased your Club is being sold to foreign money men with no love of ,or interest in football.
@DAL Unfortunately this is the world we live in.