Chinese-owned Inter Milan look for investors in ‘delicate moment’

Milan (AFP) – Inter Milan’s Chinese owners Suning are looking for investors at a “delicate moment” financially for the Italian giants, club CEO Giuseppe Marotta said on Friday.

“This is a delicate moment but these are problems that have little to do with (matters on) the pitch,” Marotta told Sky Sport before the team’s Serie A game against Fiorentina.

“We are isolating the team from problems that are over our heads and that will be resolved in the best way for the club, the fans and the history of this club.”

Inter Milan are in the running for a first Serie A title since 2010, but their finances have been hit not only by the coronavirus pandemic, but the club’s early elimination from European football.

“We are in a time of global financial contraction. It is clear that the world of football is also affected,” continued Marotta.

“For now we are moving forward and we hope for a quick resolution.

“These are problems that are beyond us, which concern our shareholders who are responsible people and will make wise choices.”

For several weeks, the Suning group, the club’s main shareholder, have been looking for investors. Inter Milan in early January denied reports of a possible sale.

The club recorded losses of more than 100 million euros ($120 million) last season, in particular due to Covid-19.

According to the Financial Times, the club would initially need 200 million euros ($240 million) urgently to ensure operations until next season.

The club are also reported to have held talks in recent weeks with British investment fund, BC Partners, but could not find an agreement on the club’s overall value.

Retail giants Suning, who bought a majority stake in the club in June 2016, value Inter at more than 900 million euros.

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