Chinese Retail Giant Suning Buys Majority Stake In Inter Milan
- 5 years ago
Chinese retail giant Suning has bought a majority stake in Italian Serie A club Inter Milan.
The announcement was made by company Chairman Zhang Jindong at a glitzy news conference on Monday in the eastern city of Nanjing, where Suning is based.
Suning already owns the Jiangsu Suning club in the Chinese Super League and hopes to boost the level of the domestic game by tapping into Italy's extensive football expertise.
The deal leaves International Sports Capital as the sole minority shareholder at Inter Milan, with Indonesian businessman Erick Thohir retaining his position as president.
Internazionale Holding will give up its share and former President Massimo Moratti will leave the club.
Full details of the sale have not yet been provided, although Chinese news reports said Suning was buying about 70 per cent of the club's equity.
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The announcement was made by company Chairman Zhang Jindong at a glitzy news conference on Monday in the eastern city of Nanjing, where Suning is based.
Suning already owns the Jiangsu Suning club in the Chinese Super League and hopes to boost the level of the domestic game by tapping into Italy's extensive football expertise.
The deal leaves International Sports Capital as the sole minority shareholder at Inter Milan, with Indonesian businessman Erick Thohir retaining his position as president.
Internazionale Holding will give up its share and former President Massimo Moratti will leave the club.
Full details of the sale have not yet been provided, although Chinese news reports said Suning was buying about 70 per cent of the club's equity.
Please like the video and share wherever you can!
To make sure you don't miss any of my videos
on this and my other channels please :
Subscribe to this channel : http://bit.ly/BeanymanSportsSub
Follow me on Twitter : http://www.twitter.com/Beanyman62
Check out my website : http://www.beanyman62.com
With every video I upload here : http://bit.ly/SiteVideos
Like me on Facebook : https://www.facebook.com/beanyman62
Follow me on Google+ : http://google.com/+BeanymanSports
Thanks