It’s never easy with this club, is it? Just five years after the Chinese retail company bought Inter, Suning appears to be on its way out, at least in part. Though the coronavirus pandemic dealt a heavy blow to Inter and Suning, the club had been making growths financially and on the pitch under Steven Zhang’s presidency.
Now, though, restrictions on investment in foreign sport imposed by the Chinese government coupled with heavy financial losses from the pandemic mean Suning’s time at Inter could be at an end. At the very least, new investors are vital. And according to reports, BC Partners, a British investment firm with €23 billion in assets, will step in.
According to Reuters, up to 40% of the club will be sold, while an eventual complete takeover by BC Partners could come within several years. For now, though, Suning will continue as the decision-makers and BC will provide much needed financial support. If Suning is able to invest fully, it will buy back the shares. If not, BC Partners will become majority holders.
Though we would all like to see continuity at a club that’s had so little over the past decade, it’s hard to see Suning continuing to be suitable owners with the new Chinese government restrictions. It’s unknown what BC Partner’s sporting plan for Inter is, but financially this sale makes sense. The timeline for the sale isn’t yet set, but by all accounts, it will happen sooner than later.
While Inter’s short term future is up in the air, but a Scudetto push is surely a suitable distraction. What are your thoughts on the news? Is BC Partners right for the job?