The Official Transfer Rumour Thread
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FT: Suning seek emergency funds
By Football Italia staff
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While there are mixed reports over BC Partners making an offer to buy up Inter, the Financial Times claims owners Suning are ‘rushing to raise at least $200m in emergency cash.’
The club’s finances are in dire straits after the effects of the pandemic and a Chinese Government clampdown on investing in foreign football clubs.
Negotiations with BC Partners to sell most if not all the shares had seemingly ground to a halt, although Il Sole 24 Ore newspaper in Italy suggests today that a proposal was made for €750m, including €400m to cover debts.
An increase of capital worth €200m could also be required by the end of 2021 to keep the club going.
The demand is closer to €900m, so they are a long way off reaching an agreement.
Now the Financial Times reports that Suning are “rushing to raise at least $200m in emergency cash” in response to “a financial crisis at the club.
“The club continues to speak with BC Partners as well as other potential investors including distressed debt funds such as Ares Management and SoftBank-owned Fortress Investment Group.
“Others who have been monitoring the situation include Swedish private equity group EQT and US-based Arctos.”
The FT report also claims “some of those with knowledge of the talks added that Suning was believed to be far likelier to sell an equity stake, even if that means taking a loss on its investment, rather than allowing the club to go bankrupt altogether.”
Suning face issues of their own in China, having paid off $1.5bn in debt last year, but with another $1.2bn in bonds set to mature this year.
By Football Italia staff
While there are mixed reports over BC Partners making an offer to buy up Inter, the Financial Times claims owners Suning are ‘rushing to raise at least $200m in emergency cash.’
The club’s finances are in dire straits after the effects of the pandemic and a Chinese Government clampdown on investing in foreign football clubs.
Negotiations with BC Partners to sell most if not all the shares had seemingly ground to a halt, although Il Sole 24 Ore newspaper in Italy suggests today that a proposal was made for €750m, including €400m to cover debts.
An increase of capital worth €200m could also be required by the end of 2021 to keep the club going.
The demand is closer to €900m, so they are a long way off reaching an agreement.
Now the Financial Times reports that Suning are “rushing to raise at least $200m in emergency cash” in response to “a financial crisis at the club.
“The club continues to speak with BC Partners as well as other potential investors including distressed debt funds such as Ares Management and SoftBank-owned Fortress Investment Group.
“Others who have been monitoring the situation include Swedish private equity group EQT and US-based Arctos.”
The FT report also claims “some of those with knowledge of the talks added that Suning was believed to be far likelier to sell an equity stake, even if that means taking a loss on its investment, rather than allowing the club to go bankrupt altogether.”
Suning face issues of their own in China, having paid off $1.5bn in debt last year, but with another $1.2bn in bonds set to mature this year.
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The FT article:
www.ft.com
Subscribe to read | Financial Times
News, analysis and comment from the Financial Times, the worldʼs leading global business publication
www.ft.com
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If Suning are rejecting 750mill, which is not a small amount, it is kinda encouraging in the sense that they aren't desperate.Inter sale: Suning reject bid from BC Partners
By Football Italia staff
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According to several reports in Italy, Suning have rejected a €750m bid from BC Partners to acquire a majority stake in Inter.
La Gazzetta dello Sport, Il Corriere dello Sport and Tuttosport confirm the British fund has made an offer to buy a majority stake in the club.
The proposal is in the region of €750m, but the demand is close to €1b.
According to Tuttosport, BC Partners have also offered an extra €200m to cover short-term debt and the Financial Times confirms Suning are ‘rushing to raise at least $200m in emergency cash.’
BC Partners’ exclusivity period ended in January, which means Suning can hear offers coming from different suitors.
Ares, Fortress, Equt and Arctors are same of the funds that are reportedly interested in beginning talks with the Inter owners.
According to La Gazzetta dello Sport and Tuttosport, the Zhang family would be open to selling only a minority stake in the club.
Links to other interested buyers is also positive, probably why Suning didn't take the offer of BC Partners as they await a better offer.
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How does any of that benefit Inter?
If Suning get an extra 100 million from an investor then that's probably 100m that doesn't get invested in the club.
I personally couldn't care less if Suning's electronics business gets an extra 100 mil.
I just want them to leave ASAP seeing as they are banned from investing money in Inter, which makes them a colossal liability.
If you mean that this news suggests that Inter are financially stable under Suning, then I beg to differ. They are 3 months behind on players' wages. They are a total liability.
Suning are worried about their profit, not the club.
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One report says that Suning is looking to remain while considerably reducing their stake. And apparently, BC isn't opposed to this and would be happy if the Zhangs stayed on as club directors.
Two other reports (could be from the same source) say that there's a race for Suning to obtain 200 million in the next 45 days or so. No specifics provided but I guess there are loan obligations to meet which can't be deferred any further. BC has to be aware of this and will probably wait till Suning sees no takers and agrees to accept their offer.
Two other reports (could be from the same source) say that there's a race for Suning to obtain 200 million in the next 45 days or so. No specifics provided but I guess there are loan obligations to meet which can't be deferred any further. BC has to be aware of this and will probably wait till Suning sees no takers and agrees to accept their offer.
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Kostic has quite good numbers for a lwb, shined against Hoffenheim today...
![72539]()
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Which reports are you talking about?
These sources have names duder.
Financial Times, Corriere dello Sport, Gazzetta dello Sport etc.
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He is very good offensively, yeah
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The source is Italian journalist Ivan Zazzaroni.
Italian Journalist Ivan Zazzaroni: "Suning Are Looking For Complete Sale Of Inter"
Inter owners Suning are looking to completely offload the club rather than seek investors, according to Italian journalist Ivan Zazzaroni. The Chinese
sempreinter.com
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Well, well.
All that seems to be confirmed here, a day after I wrote that:
Inter Owners Suning May Be Forced To Accept Cut Price Deal With BC Partners, Italian Media Claim
Rising debts and increasing financial concern may force Suning's hand as they negotiate the sale of Inter to BC Partners. The Chinese retail conglomerate
sempreinter.com
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Pity.
I liked them.
The new owners need to follow the same path: hire the absolute best available figures in management. We got those in Marotta and Conte. Before them, Spaletti and Sabatini (given market, budget etc. etc.)
BC Partners or whoever buys the club needs to do the same.
And obviously tie down Lukaku, Barella, Bastoni, De Vrij to new contracts.
And bring back Di Marco and Agoume.
I liked them.
The new owners need to follow the same path: hire the absolute best available figures in management. We got those in Marotta and Conte. Before them, Spaletti and Sabatini (given market, budget etc. etc.)
BC Partners or whoever buys the club needs to do the same.
And obviously tie down Lukaku, Barella, Bastoni, De Vrij to new contracts.
And bring back Di Marco and Agoume.
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Suning deserve a trophy with Inter before they go tbh, they spent a lot, came close (2nd in Serie A and EL last season) and certainly the team improved. One dodgy season when they arrived (16-17, Mancini, De Boer, Vecchi, Pioli, Vecchi..) then Inter returned to CL football, and now returned to competing for trophies.
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In my opinion Agoume should remain on loan at Spezia still for another season rather than return to warm the Inter bench.
I would get Maksimovic (CB backup, bosman), Dimarco and a Lukaku backup (Nzola or Caicedo)
If the club can afford a top LWB then my pick is Angelino from Leipzig. Or Kostic from Frankfurt.
Midfield situation isn't clear, no idea if Sensi, Vecino and Eriksen will stay or not. Obviously if 1-2 go then a midfielder or 2 will be brought in. If they stay we don't need midfield signings.
I would get Maksimovic (CB backup, bosman), Dimarco and a Lukaku backup (Nzola or Caicedo)
If the club can afford a top LWB then my pick is Angelino from Leipzig. Or Kostic from Frankfurt.
Midfield situation isn't clear, no idea if Sensi, Vecino and Eriksen will stay or not. Obviously if 1-2 go then a midfielder or 2 will be brought in. If they stay we don't need midfield signings.
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Good ideas
Would be happy with Maksimovic, Dimarco, Caicedo.
I'm more worried about the coachjng/management situation TBH.
Lots of rumours Marotta and Conte could leave...
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New ownership might want new people in. Hopefully not though.
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Current people might not like new ownership
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