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Report: Suning wants 20% share of Inter Milan

CCTV.com

04-06-2016 10:52 BJT

Chinese investment in the sport continues to grow, the Wanda Group made headlines last year, when they invested in 45-million euros to buy a stake in Atletico Madrid. Now electronic appliance company, Suning, is also looking to invest in a European team, as reports claim it will buy a stake in Serie A giant Inter Milan.

According to Italian media, the Chinese company is trying to buy a 20-percent of the club. Apparently buying the 14-percent stake Inter's president Erick Thohir and the six-percent owned by former president Massimo Moratti.

Moratti has said in the past he will not sell, but Italian media outlet Milan Sports believes the deal will still be carried out. The Italian side has been trying to find new investors in Asia, and this transaction will bring in around 60-90 million euros in new capital for the Nerazzurri if the deal is completed.

Suning has been willing to spend in football. In November of last year, they spent more than a half a billion yuan to purchase CSL club Jiangsu Sainty, the 2015 Chinese FA Cup champion, and promptly renamed it Suning.

And this latest investment will be considerable as well, as that will also approach half-billion yuan once you convert the currencies.

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