The reports that Suning are looking to sell Inter are revived because time is ticking down and it will be extremely difficult to repay the €275m loan from Oaktree within 20 months.
Newspaper Libero today claimed that the club owners have given Goldman Sachs the mandate to find a new buyer, but Il Sole 24 Ore – the Italian equivalent of the Financial Times – has more details.
This source insists the connection with Goldman Sachs is still the same one set up two years ago, when Suning were close to selling Inter to BC Partners.
The change now is that time is running out, because they have just 20 months left before the deadline to pay back the €275m loan taken from US investment fund Oaktree.
That loan was made with a 12 per cent interest rate.
Suning also have to pay back the bonds of over €400m at 6.75 per cent interest.
All of this, considering the club is running at a loss, is improbable, and business in China has also not recovered fully since the pandemic.
It therefore seems likely Suning will have to sell Inter by 2024 or risk the same fate that Yonghong Li had with Milan, when he defaulted on loan payments and Elliott Management effectively repossessed the Serie A club.
Suning’s ownership started well, but since they started divesting (instead of INVESTING) it has been nothing but a nightmare.
And some Inter fan kept calling Milan the bankrupt club over the past couple of seasons lol
The question is well Inter get repossessed out sold? Maybe Elliott will step in and save Inter. LOL!!!
Their tears are so sweet, lol
Inter will be in Serie B in 2025
The moment has arrived for Inzaghi to go, with his stupid formation and worthless players.
I think the Saudi consortium will be back in to discuss the inter takeover
I think Suning will not directly sell Inter since they need profit from the club and try to find investors instead.
I WISH ALLEGRY CAN GO AND REPLACE INZAGHI AND END THEIR MISERY
No Tim ..their misery is their shirt and their players
How about selling some Lego sets like Barca ? Apparently they are out of trouble after selling Lego sets