According to Bloomberg, Suning Holdings Group Co., the controlling owner of Inter Milan, is in negotiations to purchase up to 56 percent of China Sports Media Ltd. That is worth about 2.8 billion yuan, or $411.9 million.
Suning’s billionaire leader Zhang Jindong purchased Inter and a local Chinese team, Jiangsu Suning.
Suning has a streaming service called PPTV that was in negotiations to stream China Sports Media events. PPTV paied nearly $650 million for streaming rights to the English Premier League and, in March, agreed to stream Chinese Super League games for 1.3 billion yuan, or $191.2 million.
These moves come on the heels of China making an aggressive push to move soccer to its sports forefront.
What does this mean for Inter Milan? Likely nothing at all, outside of the fact that it’s the summer transfer season and we know our owners have a lot of money. Will they spend it on talent? It has yet to be seen.