The Suning Commerce Group

Linege

Allenatore
Allenatore
Joined
Sep 21, 2012
Messages
5,152
Likes
1,425
Favorite Player
FuckTree
10 years of FIF
It’s just incredible how some people sitting on their big asses with their smelly boxers on behind the computer, being smartass and talking about shit they dont even know 5% of it. Calm the fuck down and stick to football, if any.

yeah-well-thats-just-like-your-opinion-man.jpg
 

Cómi

Capitano
Capitano
Joined
May 12, 2015
Messages
1,203
Likes
156
Favorite Player
Cómi
Always tried to avoid any political subjects, and I will continue to do so.

It’s just incredible how some people sitting on their big asses with their smelly boxers on behind the computer, being smartass and talking about shit they dont even know 5% of it. Calm the fuck down and stick to football, if any.

Aren't you supposed to be practicing for Sanremo?
 

Pimpin

I'm better than Icardi
La Grande Inter
Joined
Jul 13, 2011
Messages
17,135
Likes
1,360
Favorite Player
22IcardiBroHand
Old username
DomesticatedPimp
10 years of FIF
So these guys can spread all this right-wing Trump propaganda but I get an infraction for trying to counteract them? Then better ban me from this forum since I won’t tolerate these idiots. And no one should

adrossi please spare me, but, if someone had a brodelf hitler they'd be banned. That human excrement you have on your avi is not much better than brodelf hitler.
 

Candreva Crosses

Allenatore
Allenatore
Joined
Feb 5, 2016
Messages
9,634
Likes
2,539
Favorite Player
Sheik Salman
Old username
EEeyOO
adrossi please spare me, but, if someone had a brodelf hitler they'd be banned. That human excrement you have on your avi is not much better than brodelf hitler.

its brodolf hitler
 

bolo

Prima Squadra
Prima Squadra
Joined
Sep 2, 2017
Messages
749
Likes
248
IL Capitano Javier Zanetti pls buy this club!
 

Shark

Allenatore
Allenatore
Joined
Aug 30, 2011
Messages
6,154
Likes
1,814
Favorite Player
Adriano
10 years of FIF

JJM

morepoststhanu
La Grande Inter
Joined
Aug 10, 2007
Messages
40,923
Likes
88
Favorite Player
ur mom
Old username
icardiscores
Forum Supporter
10 years of FIF
I sometimes miss this place :yao:
 

DARi0

La Grande Inter
La Grande Inter
Joined
Mar 20, 2007
Messages
10,995
Likes
5,162
Favorite Player
Beppe Marotta
10 years of FIF
back on-topic: the Zhang family is now considering an offer from private equity fund Fortress.

The American fund would acquire a minority stake in the club with a €250m bid.

Reports in Italy suggest Inter and Fortress could reach an agreement by the end of the month.

Negotiations are at an advanced stage, so much so, according to La Gazzetta dello Sport, Inter President Steven Zhang is expected to land in Milan in the coming weeks to follow talks and discuss a possible deal personally.
 

Broseph Stalin

Prima Squadra
Prima Squadra
Joined
Aug 6, 2012
Messages
715
Likes
414
Favorite Player
Francesco Toldo
adrossi please spare me, but, if someone had a brodelf hitler they'd be banned. That human excrement you have on your avi is not much better than brodelf hitler.

So what’s your point? Did I ever commend Stalin or any sort of communism in any shape or form? I could have your mom’s picture as my avatar for that matter but it doesn’t mean that I’m in love with her, ya know. It’s not surprise that this forum participation is dwindling when mods are okay with statements like that
 
Last edited:

K.I.

Allenatore
Allenatore
Joined
Jul 20, 2004
Messages
9,549
Likes
494
Old username
Khaled
Forum Supporter
10 years of FIF
So what’s your point? Did I ever commend Stalin or any sort of communism in any shape or form? I could have your mom’s picture as my avatar for that matter but it doesn’t mean that I’m in love with her, ya know. No surprise that this forum’s participation is dwindling when mods are okay with statements like that

You could just say what you mean by your avatar for that matter without mentioning his mom to try and prove ur point.

Whats his statement exactly? that he doesn like the person in ur avatar?
 

TheNetworkZ

Allenatore
Allenatore
Joined
Mar 13, 2012
Messages
8,472
Likes
2,549
Favorite Player
The Bro
10 years of FIF
I'm not well-versed in economics or business but doesn't 250m for a minority stake still leave us somewhat screwed? It seems like a weak option to take considering our majority shareholders can't invest into the club at all. How can we expect the club to do much needed signings during the transfer window?
 

brehme1989

La Grande Inter
La Grande Inter
Joined
Jan 17, 2005
Messages
34,966
Likes
18,018
10 years of FIF
Nostradamus
Most Passionate Member
I'm not well-versed in economics or business but doesn't 250m for a minority stake still leave us somewhat screwed? It seems like a weak option to take considering our majority shareholders can't invest into the club at all. How can we expect the club to do much needed signings during the transfer window?


If the 250m funding comes exclusively from a share capital increase, the 250m will become cash for the club.

I'm pretty sure Suning will want to cash in a significant amount though, so the money will just exchange hands. Which leaves Inter at the same financial situation, but then they may decide to do a share capital increase and all parties will have to raise an 'x' amount. So maybe 200m will go to Suning, then they will raise 50m whilst Suning will raise 100m for this, so Inter will get this 150m figure.
 

.h.

Part time Lazarus
La Grande Inter
Joined
Jun 8, 2005
Messages
29,600
Likes
7,807
Favorite Player
Inter1-0Wanda
Old username
browha
Forum Supporter
10 years of FIF
Honestly, we're not that 'far' off being a profitable business. Last year pro forma was about a 55mil loss, mainly through loss of sponsorship, this year will be more like 100m I suspect mainly because of no season ticket/matchday revenue.

If we make the cuts I outlined in the Financial thread, we can cut like 80mil a year of costs without TOO much impact into the first team. Clearly some of that will be reinvested into players. We can also further cut the amortisation bill. With a new shirt sponsor, triggering contractual bonuses linked to (hopefully) winning the league, and being able to sell season tickets again, we should be able to recover.
 

CafeCordoba

Moderator
Moderator
Joined
Mar 7, 2004
Messages
35,859
Likes
15,709
Favorite Player
Toro, Barella
10 years of FIF
I also read last week that this Fortress deal would be for "preferred equity". If I understand it correctly, it's equity (shares) with no power. The catch is preferred equity gets dividends paid every year at fixed rate, no matter if dividends are paid or not to the shareholders. So owning these shares is a bit like you've given a loan and you get interest payments (in addition to the fact you own part of the company at the same time). So it will cost Inter money to get money (like a loan) but then new shares are issued to be these preferred shares?
 

.h.

Part time Lazarus
La Grande Inter
Joined
Jun 8, 2005
Messages
29,600
Likes
7,807
Favorite Player
Inter1-0Wanda
Old username
browha
Forum Supporter
10 years of FIF
If there's no voting power, though, that's useful for Suning I guess. Though it might make any sale of the Fortress % hard - someone only needs to buy Suning's part to fully own the decision making power in the club (though that's fairly arbitrary if Suning only sold 30% anyway as they'd still hold majority)


https://en.wikipedia.org/wiki/Preferred_stock
 

brehme1989

La Grande Inter
La Grande Inter
Joined
Jan 17, 2005
Messages
34,966
Likes
18,018
10 years of FIF
Nostradamus
Most Passionate Member
I also read last week that this Fortress deal would be for "preferred equity". If I understand it correctly, it's equity (shares) with no power. The catch is preferred equity gets dividends paid every year at fixed rate, no matter if dividends are paid or not to the shareholders. So owning these shares is a bit like you've given a loan and you get interest payments (in addition to the fact you own part of the company at the same time). So it will cost Inter money to get money (like a loan) but then new shares are issued to be these preferred shares?

Yeah, it's pretty standard for private equity deals.

In layman's terms using football lingo, it's like a loan + option for new shares, something like that :D You described it rather well actually, but the shares are sort of inactive until they become active, but I'll have to dig in quite far to get this laid out.

An important thing is that the company is typically the only one you can sell these shares to. Inter can also say that it cannot afford these payments anymore and stop paying the dividends. That will trigger the shares to be...activated. So the fund will now own common shares, rather than this type of preferred ones.


Private equity firms will rarely invest their cash anyway, it's mostly complex loan deals.
 

CafeCordoba

Moderator
Moderator
Joined
Mar 7, 2004
Messages
35,859
Likes
15,709
Favorite Player
Toro, Barella
10 years of FIF
Yeah, when I looked up what is preferred equity, it sounded to me too that Suning probably prefers that at this point. Selling 30% doesn't give power any way, but probably in "normal" buying case, the buyer would require to have a person or two from them in the board. With preferred equity I understood there is indeed no such thing and it's completely in Suning's control (if preferred equity would be issued).

It's also rumored they prefer this thing now as they want to run the season down, possibly to get the title (and pot1 in CL and so on) and then look again for the buyers. Value of the club will surely go up. Maybe the shirt sponsor thing is more beneficial to get signed after the Scudetto but also it feels tome it's almost like way too late at that point? (in May)
 

Broseph Stalin

Prima Squadra
Prima Squadra
Joined
Aug 6, 2012
Messages
715
Likes
414
Favorite Player
Francesco Toldo
I’ve worked with Fortress investment group for many years both on their hedge fund and private equity sides and given the opportunistic nature of their investment thesis, I feel a bit concerned about our financials. The fact they are interested in buying a minority share in Inter would’ve been a bad signal for me in the past. But now they are owned by SoftBank and I’m sure a lot of things have changed in their operations. If someone is interested to learn more about Fortress, check this article https://www.institutionalinvestor.com/article/b1505p66vq06cy/the-fall-of-fortress. They are actually known for their complex deal structures that involve preferred shares

Preferred equity is what VC funds usually go for. No operational control but the highest priority in the liquidity stack. And obviously, they’re going to put their person on Inter board
 
Top