Inter Milan Seeking £142Million Injection to Keep Milan Competitive
Inter Milan is desperately in search of new investment to keep the financially stricken club afloat with the club said to be seeking a £142Million cash injection.
In the last few seasons, Inter Milan has heavily spent in a bid to transform the team into Serie A title contenders. However, their outlay combined with the COVID-19 pandemic has left them in a vulnerable position.
Manager Antonio Conte was backed during the transfer market last season. The coach signed Romelu Lukaku at a £74m fee while Christian Eriksen arrived for £16m from Spurs.
This summer the Nerazzurri splashed £35m on Real Madrid’s Achraf Hakimi and secured a permanent deal for ex-United star Alex Sanchez.
Majority shareholders Suning Holdings have been in talks with a number of companies but have failed to negotiate a possible investment, the Financial Times reports.
BC Partners, a private equity firm, are said to have pulled the plug on talks with the Italian outfit after failing to come to an agreement on valuation.
The Chinese group value the club at around £785m, the report adds, although BC Partners value the Serie A giants closer to £650m. Suning is said to have spoken about selling a stake in the club – possibly at a loss.
Suning purchased Inter in 2016 for around £235m – with Steven Zhang intent on bringing glory back to one of the biggest clubs in world football, highlighted by the big-money buys.
But if the club is unable to secure an investment deal with BC Partners, then a cash injection will be crucial to allow the team to remain competitive beyond the end of the current season, FT claims.
Suning is said to have financial problems of their own in their native China, with FT reporting that they are finding it much tougher to fund the club due to a crackdown on companies directing capital out of the country.
The owners will be pleased to see Conte’s side keeping pace at the top of the league table, with the team currently second, two points behind rivals AC Milan.
Qualifying for the Champions League – something Conte achieved last season – will be vital as a source of revenue, although Inter suffered a blow this term by failing to get out of their group and dropping into the Europa League.