The Suning Commerce Group

[kurt0411]

What is pissing me off with these guys is they aren’t even saying anything about all of this chaos. It’s always Marotta and Conte that have to sit there and answer questions about these fuckers. How about put your face out there and clear up some things? You owe it to the club

 

[Capo]

Anyone who says this is a cash flow/liquidity problem is fucking stupid. They have over capitalised, borrowed to the hilt and cannot pay their obligations. Hopefully Goldman Sachs find an appropriate buyer and we move on.

 

[Pimpin]

Anyone who says this is a cash flow/liquidity problem is fucking stupid. They have over capitalised, borrowed to the hilt and cannot pay their obligations. Hopefully Goldman Sachs find an appropriate buyer and we move on.

yes, Brehme of all things, knows dick about these fin stuff

but it is worrisome how their chinese operation is going as well, their main suning listing is struggling as well. I read somewhere they helped evergrande pay some loan.. but still very worrisome. I think they are linked with Jack Ma as well.

 

[brehme1989]

Suning's way of funding the club has been through debt ever since day 1 iirc. We've lost matchday revenue and sponsorship deals. That's what is hurting us now.

You think you can give out bonds if you're not projected to be able to repay them?
The club's bond is at 4.875% which is quite normal for a corporate bond, not too risky but in no shape conservative either and I'm pretty sure being in Italy raises this a bit.

It is rated BB- by Fitch in July with a "stable outlook". That means that our bond is considered quite speculative for invrstors. (As a note, bonds are considered conservative investments and the term "risk free" is thrown when it comes to a select few of them, so being speculative here doesn't mean that we're talking cryptocurrencies).
If you look at the report, the weak links are this very debt structure that Suning implements as well as the link we have with the Chinese company.
There's a default risk of course, but quite unlikely. These guys may seem like crooks for people who just heard of them in the news or movies, but they know what they're doing, especially when it comes to non-systemics operations there's no reason to suspect any unprofessionalism.


https://www.fitchratings.com/resear...an-mediaco-notes-bb-stable-outlook-23-07-2020

 

[Bluenine]

What is pissing me off with these guys is they aren’t even saying anything about all of this chaos. It’s always Marotta and Conte that have to sit there and answer questions about these fuckers. How about put your face out there and clear up some things? You owe it to the club

These negotiations are always complicated and usually are done under strong non-disclosure terms. Speaking to the press is not a good idea for Suning right now, not just coz they don't want to make promises they might not be able to keep but also coz they could kill the transaction / breach the NDA.

Looks like Suning have leaked stuff anonymously, and thats the best we can expect. Even that may have backfired on them, as I have a feeling the liquidity crisis rumours have been leaked by BC partners in retaliation.

 

[FairyTailed]

According to Swiss Ramble (I'd advise a full read: https://twitter.com/SwissRamble/status/1356492199261655040), we have no liquidity problems at all. In fact, we supposedly keep questionable insane amounts of cash. Unless these numbers are not up to date it does look like there's more at hand than the speculated liquidity problems.

Unless literally all the cash has been eaten through since the start of corona.

 

[brehme1989]

Of course it's not up to date. That's based on June 2020 since that's the year end date used.

Also, to simplify this even further.
I have $20, I owe $5; No liquidity problems.

I have $400, I owe $500: Liquidity problems.

Cash balance doesn't show anything. Cash flows are far more important.

 

[Capo]

Of course it's not up to date. That's based on June 2020 since that's the year end date used.

Also, to simplify this even further.
I have $20, I owe $5; No liquidity problems.

I have $400, I owe $500: Liquidity problems.

Cash balance doesn't show anything. Cash flows are far more important.

This is all well and good, but from everything I am reading Suning is about to go broke. If they cannot pay the for the rights of Serie A and havent done so for months, and then still have 200mil to pay to keep Inter running until the end of the season.....

Thats half a bill, Cash flow/liquidity whatever financial term you like to call it. They're defaulting on their obligations. They need to sell an asset to pay or go bust to put it simply.

 

[Broseph Stalin]

Everyday I check this thread thinking that we finally went bankrupt and it never happens. Wtf Sunning, stop torturing me. Go bankrupt or go home

 

[TheNetworkZ]

Just send the club over to some trillionaire sheikh and let him breach ffp multiple times with 0 consequences already. I deserve to see it in my life time.

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[compile]

In the words of Jim Lahey:
"You feel that? The way the shit just sticks to the air? There’s a shit-blizzard comin, I always know"

 

[snowforum180]

Praying we don’t have a fire sale this summer and lose key pieces.

 

[Forzanerazzurri]

Anyone who says this is a cash flow/liquidity problem is fucking stupid. They have over capitalised, borrowed to the hilt and cannot pay their obligations. Hopefully Goldman Sachs find an appropriate buyer and we move on.

Not being able to service your debt and pay weekly wages is literally the definition of a cashflow problem.

 

[TheNetworkZ]

Any recent news on this? I get more nervous with every passing day.

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[Forzanerazzurri]

Any recent news on this? I get more nervous with every passing day.

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Itll be fine. Dont lose sleep over it.

 

[bubba zanetti]

Sell the club already and fuck off, we need money for Hakimi and for other players.

 

[Palacio]

Any recent news on this? I get more nervous with every passing day.

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Aren't you tired of Suning's never ending execuses? Any owner with a vision would be a lot better than Suning as long as the current directors are all sacked and replaced by people who know what they are doing.

 

[Il Drago]

Suning Face ‘Crossroads’ Over Inter Sale As Bain Capital Talks Continue, Italian Media Report

Inter’s owners Suning are at a crossroads in terms of what to do with the club, a report in the Italian media warned today.

As per Gazzetta dello Sport’s print edition, Suning must find €200-250 million before the end of this season to guarantee the Nerazzurri’s economic stability.

They are hoping to do this without selling the club to new owners, though, and have identified a solution which would enable them to avoid it.

The plan involves securing a loan to cover Inter’s financial obligations in the short term, and Suning are in talks with US debt-related fund Bain Capital over this.

The loan would act as a ‘bridge’ towards more prosperous economic times and ensure Suning do not need to sell a majority stake at Inter to another party, such as BC Partners.

The British-based private equity fund are still in contention to buy the club, though, having been in talks with Suning for several weeks.

Should Suning sell Inter to BC Partners, the Milan-based paper explained, the parties could agree on an ‘earn-out’ clause to ensure the Chinese retail giant avoids making a heavy loss on their investment.

The clause would see BC Partners guarantee Suning a ‘bonus’ extra payment in addition to the agreed fee for Inter, which would be dependent on the club achieving certain results after its ownership change.

A choice must be made soon, given the many deadlines to be met by the end of next month.

Time is running out for Suning to make their minds up and find the money Inter need.

 

[ADRossi]

The Bain Capital option seems like we're just setting ourselves up for a Yonghong Li defaulting situation. I have a hard time believing Suning are capable of keeping this thing afloat without major player sales this summer.

 

[thatdude]

So what’s the best option for us? Mubadala coming in as a minority holder?