Inter Milan owners are trying to collect at least $ 200 million in emergency cash from the Chinese, after the Italian football club's financial situation deteriorated due to the epidemic and huge spending on top players .
and according to Arabianet, Suning Holdings, the Chinese retailer that owns a majority stake in the Serie A team, is seeking to inject new investments by the end of The year is a response to a financial crisis at the club, according to three people familiar with his finances.
Sunning's challenges with Inter Milan come as the retailer, backed by Alibaba, faces questions about its heavy debt burden in China.
The club held exclusive discussions with the private equity group BC Partners in recent weeks about a potential investment, but those talks ended after the two sides were unable to agree on the evaluation, according to It was mentioned by the Financial Times, and seen by Al Arabiya.net.
The Nerazzurri faced an Inter Milan monetary crisis last year, as the club suffered pre-tax losses of 102 million euros last season due to lack of revenue caused by the epidemic.
owner defaulting
Meanwhile, Sunning faces financial pressures in her native China, which has made it difficult to continue funding the Italian club, including the recent crackdown by Chinese authorities on capital outflows.
While Sunning was able to pay off $ 1.5 billion in debt late last year, its remaining liabilities amount to another $ 1.2 billion in bonds maturing this year, representing More than half of the total debt burden owed, according to data from Dealogic.
potential sale
The club continues to talk to BC Partners as well as other potential investors, including troubled debt funds such as Ares Management and Fortress Investment Group, owned by Softbank, and others who have been monitoring the situation include Swedish private equity group EQT and US company Arctos. >
those conversations range from discussing outright club acquisition or buying a minority stake, according to many people familiar with the ongoing discussions.
Sunning has also appointed Global Investment Bank Goldman Sachs as a financial advisor to raise funds.
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