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Inter Milan Bought By Suning Holdings Group

inter-takeoverIt’s official. Inter Milan have become the first Serie A club to fall under Chinese ownership after the Suning Holdings Group completed is purchase of a 68.55% controlling share in the club, and despite early reports suggesting otherwise, Erick Thohir will remain on as president.

Suning is reported to have paid €280 million for the majority stake as part of an overall, plus they are taking on €230 million of debt and a €100 million loan from Thohir.

Thohir told a press conference in Nanjing on Monday:

‘This new partnership with the Suning Holdings Group means Inter are taking a revolutionary step into the future.

‘In the past two and a half years we have built on a solid foundation, making the club stronger.

Now this new partnership will allow us to take a new, decisive step forward in our bid to restore Inter to their rightful place among the world’s top clubs.’

Suning Holdings Group chairman Zhang Jindong said on inter.it:

“This is an unprecedented opportunity for Inter Milan to grow further in China, and China will become the second home of Inter Milan.

“Suning will inject a steady stream of capital investment in Inter Milan, which will help attract more talented players”

‘Furthermore, Suning’s investments and resources will help Inter return to their glory days and become stronger and stronger, attracting the stars of world football.’

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