The Suning Commerce Group

[varmin]

This is just a false equivalency statement.

Maybe not all, there are few exceptions as that guy who created Minecraft and then sold it, but the most built their fortune over the corpses (figuratively and literally) of other people. Royal Saudi family are so rich because of the gas and the oil. Of course, it's quite possible that they did bad things with the power of their money, but many of the richest people are doing the same, just they are hiding it well. Harvey Weinstein is a good example, as he was respected film producer before his dirty secrets got leaked.

 

[.h.]

Something fishy. Saudi or middle east billionaire always buy bottom or mid table club, like City, Newcastle or PSG. They prefer build something from bottom, and take few years to become powerhouse like City.

Inter, on other hand is very costly investment. We have already good structure, and if they buy Inter, they will miss something pride like make small club to become big club.

It's not so much the building, imho, but more the ability for revenue growth. A club like Newcastle you do a one/two/three off capital injection then by improved PL and CL revenues it can become self sustaining and you have a prestigous asset

A club like Inter you will spend 1 bil on it then probably another 0.5-1 bil to build a new stadium and fund losses before you even really get to significant investments

 

[DARi0]

Perhaps offer has been accepted then?

They are not only buying a winning team, they are buying history - all the titles won over time. Which is arguably priceless, hence the higher than usual price.

 

[Stefan]

Seems Stevie has secured a new loan with primco.

Suning on verge of new loan to keep Inter control

The Zhang family and Suning are close to securing their Inter future by agreeing a deal with American fund PIMCO to pay €385m loan to Oaktree.

football-italia.net

 

[Nerazzurri_Ninja]

lets hear it for pimpco, suning gona lead us to even more success

 

[vasilios]

So every few years he'll just get a bigger loan at a bigger interest rate. Seems like a fool proof business plan.

 

[.h.]

Not really. there's a couple of options.

1 - Inter is getting closer and closer to profitability, he can actually start to pay down some of the loan. Whether it will be fast enough, who knows
2 - Minority investor who clears the debt
3 - Sell inter

 

[William]

There is nothing that fills me with more dread than the words “another high interest loan”

You can’t afford to keep the club so sell it.

 

[vex]

You can’t afford to keep the club so sell it.

This is a vanity project for zhang, that thought doesn't even cross his mind. As long as he can keep this ship afloat, he is staying.

My only hope now is that he actually cares for a club, and when push comes to shove he can put the club at the top in terms of priority and not just let us drown with him.

 

[Hikonyán]

Another high interest loan...

Talk about pissing your pants to keep warm, very shortsighted solution.

 

[.h.]

im not doubting it but where are you seeing an interest rate on the new loan?

 

[RickyMaravilla'sRightFoot]

now we’ll have to win the CL every year to avoid selling starters.. even then we probably still wouldn’t break even

 

[Hikonyán]

im not doubting it but where are you seeing an interest rate on the new loan?

Nowhere i doubt anyone knows other than the club and firm, but if they borrowed 275m€ from oaktree and had to pay back 385m€ and they now want to borrow 400m€ from someone else for a similar duration, its reasonable to assume the interest will be similar..

So basically now paying 500m+ to pay back an initial 275m loan. Great stuff.

 

[.h.]

Nowhere i doubt anyone knows other than the club and firm, but if they borrowed 275m€ from oaktree and had to pay back 385m€ and they now want to borrow 400m€ from someone else for a similar duration, its reasonable to assume the interest will be similar..

So basically now paying 500m+ to pay back an initial 275m loan. Great stuff.

tbf, not *necessarily* - when we got the oaktree loan our financials were like -200mil a year. We're now like -35mil this year, and that includes financing costs. Dont get me wrong, base rate is also way higher since then too, but the risk of bankruptcy for Inter has massively reduced with the end of COVID and everything else.

Plus, it doesnt 'really' impact Inter - the Oaktree loan only passed through like 30-40% to Inter, and a large part of it was converted to equity - its a Zhang financials issue really.

 

[Forzanerazzurri]

Phew..that was a close one. Not.

 

[CafeCordoba]

Zilliacus interview. Clarifies lots of shit:

https://podcasts.apple.com/fi/podca...thomas-zilliacus/id1450987470?i=1000653022962

Tried to get the guy to Inter Jections aswell but that was several months ago. Probably got everything do with the timing and nothing to do with the amount of subscribers.

Speaking of Inter Jections, don't miss out the latest episode with the Scudetto derby preview.

https://forzainterforums.com/index....s-an-inter-podcast.16078/page-26#post-2253483

 

[WLEXT]

Thank You Zhang, Thank You the People's Republic of China.