Fabrizio Biassin: Zhang Kangyang authorizes Goldman Sachs to sell Inter for 1.2 billion euros
77577 Football Serie A Sports

Fabrizio Biassin: Zhang Kangyang authorizes Goldman Sachs to sell Inter for 1.2 billion euros

Well-known Inter Milan expert Fabrizio Biassin reported today that Nerazzurri chairman Zhang Kangyang has authorized Goldman Sachs to find potential buyers for Inter Milan .

It is reported that Suning Group ‘s valuation of Inter Milan is 1.2 billion euros, which is similar to the price of AC Milan acquired by Red Bird Capital.

According to the Italian professional financial media “Il Sole 24 Ore”, heavy debt is the main reason for Suning Group to sell Inter Milan: In May 2021, Suning Group obtained a loan of 275 million euros (interest rate 12%) from Oaktree Capital, and at the same time A written commitment to settle the debt by May 2024. According to the contract, if Suning fails to repay the entire loan (together with interest), Oaktree will acquire the majority of the Nerazzurri shares and become its owner.

“Il Sole 24 Ore” pointed out that there are only 20 months left before the agreed repayment period, but Suning is unable to repay due to financial constraints.

On the other hand, Suning was required to repay more than 400 million euros of bonds at an interest rate of 6.75%. Considering that the club is still at a loss, Suning believes that they have no choice but to put the club up for sale.

Biassin’s report has not been officially confirmed yet. There are also media (such as Mediaset) that Suning Group has no intention of selling Inter Milan, and they prefer to find partners.

Source: www.77577.live

Leave feedback about this

  • Quality
  • Price
  • Service

PROS

+
Add Field

CONS

+
Add Field
Choose Image
Choose Video
X