Chinese electronics giant buys majority stake in Inter Milan
Inter Milan have become the first Italian Serie A football team to fall under Chinese ownership after a leading electronics retailer secured a near 70 percent share in the club.
Chinese retailer Suning Commerce Group Co Ltd has bought a 68.55 percent controlling share in the San Siro club for just over $300 million. Previous owner Erick Thohir, an Indonesian businessman, will remain as president.
“This new partnership with the Suning Holdings Group means Inter are taking a revolutionary step into the future,” Thohir said.
“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.”
Inter have struggled in recent seasons since Jose Mourinho led them to a league, Coppa Italia and Champions League treble in 2010.
Roberto Mancini secured a fourth-place finish in 2015/16, but the ex-Manchester City boss could find himself surplus to requirements under the new regime.
Suning Holdings Group chairman Zhang Jindong said on inter.it: “This historic agreement gives Inter an opportunity to experience unprecedented growth in China, so that our country will become a second home for the Nerazzurri.
“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.”
Suning already owns domestic club Jiangsu Suning, currently third in the Chinese Super League, but this is its first venture into sport overseas.
suning is winning?
inter isnt in the top tier of italian football clubs right now but it does show that the money pit in china is endless..china wants to become the premier country for soccer within a decade..there will be more of these in the future..