US investors have expressed interest in buying Inter Milan from its present owners, Suning.
The New York Times, a US-based daily, reports that after seeing the club’s facilities and accounts, both private families and equity investors expressed interest in purchasing it.
As the New York Times points out, Suning has consistently refuted any desire to sell the club.
Nonetheless, the US daily also draws attention to the club’s financial struggles, especially those that have existed since the pandemic’s beginning.
Furthermore, China’s prohibitions on financial investments have raised questions about Suning’s claim to the Nerazzurri.
As a result, the New York Times reports that US-based boutique bank Raine Group has been given the task of looking for a new club owner. The bank that made it possible for a group led by Todd Boehly to acquire Chelsea, one of the biggest teams in the Premier League, was called Raine Group.
The New York Times reports that Raine’s quest hasn’t been totally fruitless.
It has been reported that certain interested parties have expressed their interest.
These have mostly come from the United States. According to a NYT article, Raine has identified equity investors as well as individual families who have expressed a genuine interest.
The Nerazzurri have been given a €1.2 billion price tag by Suning, according to the publication. Interestingly enough, RedBird Capital paid Elliott Management this sum to acquire AC Milan.
The New York Times reports that Suning’s inability to sell the Nerazzurri at their desired valuation is mostly due to Inter’s financial predicament.
Suning obtained a €275 million loan in May 2021 from US-based investor Oaktree Capital. When the debt is due in May of next year, the Nerazzurri owners will have to pay back €350 million plus interest.
If the Inter owners are unable to accomplish this, they run the risk of Oaktree gaining control of the team.
Ernesto Paolillo, the former CEO of Inter Milan, is quoted in the New York Times as saying that Suning will have to sell or cede control to Oaktree.
NYT reports that as a result, Inter’s owners are in a risky situation. They haven’t publicly expressed a desire to sell the club for less than what they are asking for as of now.
But it’s challenging to sell Inter at Suning’s price given the debt load. Furthermore, the current owners are in a difficult situation since they risk losing ownership of the Nerazzurri if they are unable to refinance the loan.
Although the New York Times reports that anonymous parties have expressed interest in purchasing property in the United States, there have also been some more widely known public connections to possible purchasers.
Thomas Zilliacus has surfaced as a potential buyer for Inter from its present owners Suning throughout the past week or two.
Leave a Reply