Reports in Italy claims Suning are at real risk of losing control of Inter if they don’t raise €340m in the next 36 months, as their debts reportedly amount to €700m.
An episode of RAI 3 investigation programme Report will be transmitted this evening on the financial crisis in football, but Il Fatto Quotidiano newspaper gives some advance revelations specifically on the situation at Inter, who won the Serie A title in May.
It points out that investment fund Oaktree has loaned €275m to Great Horizon, a holding company that owns 68 per cent of Inter.
The problem is that this isn’t the only money Suning have borrowed to keep the club afloat and it’s claimed the total debt now reaches circa €700m.
All the deadlines are also on the horizon, so the Oaktree loan must be repaid in three years’ time with a 9 per cent annual interest, which reaches €72m over three years.
Added to the original loan, that means Suning must find €340m over the next 36 months to repay Oaktree.
The alternative is to have the holding company, and thus the club, repossessed in a similar way to what happened with ex-Milan President Yonghong Li and Elliott Management’s high-interest loan.
That isn’t all, because Il Fatto Quotidiano also points to the €375m in bonds that must be repaid by December 2022.
This would be difficult at the best of times, but even more so when the club is running at a loss with wages and operative costs that are more than their revenue.
Il Sole 24 Ore correspondent Carlo Festa claims on Twitter that Suning are selling so many players in order to get the books balanced enough to make the club appetising for a complete takeover.
He insists the €700m offer from BC Partners that was rejected over the summer was only snubbed because Inter thought they’d be in the European Super League, a project that was announced and then collapsed within 48 hours.
Now Festa maintains Suning would be content to get €600m for the sale of Inter.
Inter-Suning, oltre 700 mln di debiti: “Serve fare cassa e spunta lo schema Milan”https://t.co/m2Yf8xFRka
— Fcinter1908 (@fcin1908it) August 16, 2021
All of this in return for one trophy 😂 In all seriousness though, this is a disaster. A Napoli and Fiorentina style demotion on the ‘Great horizon’?
So.. Inter 700m debt. Barca 1.3b debt and yet the only team I’ve seen punished for FFP has been Milan.
Something doesn’t add up, and I don’t just mean Inter’s (and Barcas) accountants
Inter finding 340 million in 36 months is like trying to find a Round of 16 match that Inter has played in the last 10 years it’s impossible ! so i hear that Inter is in talks with another asian business person “YU KANG SOOK MI KAK”
@Vogel. I couldn’t agree more. I also thought that to register for Serie A, you couldn’t be close to going into administration. Barcelona’s debt seems to be growing day by day, and yet they’re still registering newly signed players. None of it makes any sense.
COVID only accelerates this. But in general, clubs like PSG, Man City, Chelsea, and to some extent TV money-rich English teams destroy the football world. Barca has 2nd highest revenue and they owe 1.3b debt. Not long ago, players like Totti/ Del Piero earn 4-5 million a year. Now good, not great player earns 9-10 million and top player 15-20 million. Ronaldo and Messi may deserve their high salary for what they have done consistently. Most players even in the crisis wouldn’t want to reduce their salary. Transfer fees are inflated. Dembele over 100 millions?? Griezmann, Coutinho??? Grealish 100 million??? A relatively unknown defender Ben White worth 50 millions£?? Pogba 600,000 euro a week??? UEFA FFP is rubbish. The salary cap is a must for the whole of europe.
At this rate, they’re going to want Thohir back in the drivers seat. Zhang is on his way to becoming a real antagonist in Milan.
The financial constraints have happened to all clubs during this pandemic..but only Inter has been put in broadcast.
36 months are about 3 years or 3 season, everything can happen in very short in football. No need to blow up this that much. Right now Inter can be the most fortunate than others as they just received almost 200 million Euros from selling Hakimi and Romelu..not every club has that money in this pandemic
@To all Inter haters… I assume you bunch of baboons realized that your beloved clubs are in the same shitty situation like Inter but with less media coverage, right? Your denial shows how much you know about your own club.
@Rosario do you know anything about football beside hating Inter? Look at @I MISS MARCO BRANCA AT INTER” and set an example for yourself to not be a more miserable person than him, that dude literally killing himself… I can’t believe you lurk here for such a long time and yet you don’t know much about your own club and debts! Tell me when really a hedge fund haS done anything good to anything/anybody expect themselves? just one example please!
I can’t shut up to not say this to that “I MISS MARCO BRANCA AT INTER” dude, now you got my sympathy because I MISS FABIO PARATICI AT JUVE too!
Milan have no debts. Look it up.
@ I miss juve – funny, the ultras sing a different tune. You’re probably a north american with no clue. Inter is ruining itself and if you cannot see that, I fell well and truly sorry for you. Remember when Ricky Alvarez was basically your best player a few short years ago? Well, i hope you welcome those days back because Suning and Zhang have 0 love for inter.
@I MISS JUVE IN SERIE B: at Inter when you sell Cannavaro to get Carini you get a 12 year contract extension while at Juve making deals half as bad as that ensures that you are let go ….see the difference in standards? And to prove it, Inter’s money troubles were mainly in part caused by Ausilio and guess what ? HE IS STILL EMPLOYED AT INTER !! HOW?!