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Inter begin search for buyer

Serie A side Inter have begun their search for a buyer as Suning look to sell off one of their biggest investments. The Nerazzurri tightened their purse strings in recent seasons as they sold off top players like Romelu Lukaku and Achraf Hakimi in an effort to balance the books.

The Financial Times now report that the club will begin looking for a buyer this week with US boutique bank Raine Group, which handled the record-breaking £2.5bn auction of Chelsea this year, and Goldman Sachs, working on the sale process.

Inter has been under the ownership of Nanjing-based electronics retailer Suning since 2016, but the company’s large short-term debt pile has also left it exposed to a tightening of credit conditions in the Chinese economy.

Suning looked to offset the damage caused by the Coronavirus Pandemic by securing a $275 million loan from distressed debt specialist Oaktree Capital before being rescued themselves by local government and shareholder Alibaba in a $1.4bn bailout.

Inter’s latest set of financial accounts showed revenue increasing to €440 million and a loss of €140 million for the 2021/22 financial year.

Suning are reportedly set to inject capital of €100 million this year in tranches according to the report from the Financial Times.

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