January 28 – Inter Milan is now under full Chinese ownership with private-equity fund LionRock Capital having the 31.05% stake retained in the club by in Indonesian Erick Thohir when he sold to Chinese electronics retailer Suning Commerce Group in 2016.
No value has been given for the deal but Suning paid € 270 million as part of an overall €750 million deal that saw them take on €230 million of debt and a €100 million loan from Thohir, as well as the financing requirement to invest in the playing squad to take the club forward.
Steven Zhang, president of FC Internazionale Milano said in a club statement: “In 2018, thanks to the efforts of the entire staff, of our management, coaching team and players, we have achieved strong results in sports performance, commercial growth, and marketing and media innovations. This gives us full confidence for the future development of the Club and has led to the interest of LionRock Capital.
“In addition to this partnership, we also look forward to establishing further global sporting and commercial relationships. Together with our partners, we continue working on our prime objective – to make Inter a top club worldwide on and off the pitch and to provide the best possible experience for millions of Inter fans.”
Inter have grown aggressively in China since Suning took control, primarily based around the establishment of a number of Inter Academies throughout the country.
Daniel Kar Keung Tseung, Founder and Managing Director of LionRock Capital, said: “We are very optimistic about the business development prospects of all sports-related activities and with over 110 years of history and global influence in the football area, FC Internazionale Milano has exciting future development potential. LionRock Capital will fully support Inter’s key objective to make the Club one of the world’s top football clubs both on and off the pitch.”
Contact the writer of this story at firstname.lastname@example.org