The Suning Commerce Group

[.h.]

if anything, we're probably worth more. We've swapped Hakimi at ~fair market price, and Lukaku above market price. If we were worth 800 then, we might be up to 900-950 now (bearing in mind pot 1 CL as well).

Selling an asset doesnt change your net worth (at face value, anyway) unless you under or oversell.

 

[Harpsabu]

if anything, we're probably worth more. We've swapped Hakimi at ~fair market price, and Lukaku above market price. If we were worth 800 then, we might be up to 900-950 now (bearing in mind pot 1 CL as well).

Selling an asset doesnt change your net worth (at face value, anyway) unless you under or oversell.

You're the finance guy so I'm sure it's considered, but I'd imagine we had factored in their market costs. As you say we may have over sold, but would be interested to know what they were valued as in that.

Danger now is if we piss 40m on zapata and miss out on champions league. That could be 100m easily wiped off

 

[ADRossi]

if anything, we're probably worth more. We've swapped Hakimi at ~fair market price, and Lukaku above market price. If we were worth 800 then, we might be up to 900-950 now (bearing in mind pot 1 CL as well).

Selling an asset doesnt change your net worth (at face value, anyway) unless you under or oversell.

Conversely, you're worth the expected discounted future cash flow you produce, and we just put ourselves in serious contention to miss out on the UCL (and the corresponding revenue).

 

[Harpsabu]

Conversely, you're worth the expected discounted future cash flow you produce, and we just put ourselves in serious contention to miss out on the UCL (and the corresponding revenue).

Oh man, that avatar fucking hurts

 

[.h.]

You're the finance guy so I'm sure it's considered, but I'd imagine we had factored in their market costs. As you say we may have over sold, but would be interested to know what they were valued as in that.

Danger now is if we piss 40m on zapata and miss out on champions league. That could be 100m easily wiped off

yeah, so that's my point - the valuation of the club would notionally include "reasonable" market value of the players. At the same time, if we get more than expected, it'd reflect on our share price. It's a shame we arent listed for many reasons, but it'd be interesting to see how the market would have reacted to this.

The Juve share price is fairly flat, though, as is Roma, so I kinda take that as a proxy?

 

[.h.]

Conversely, you're worth the expected discounted future cash flow you produce, and we just put ourselves in serious contention to miss out on the UCL (and the corresponding revenue).

TBH, ish. Yes in principle, but if you look at football clubs, they basically never price as you would with other industries (e.g. PPE multipliers). I wouldnt be surprised if the valuation of a football club is basically player equity + infrastructure (e.g. stadia), more so than cashflow forecasting as you would do with other companies.

Man utd's valluation ranges between like, 1x PPE through to 5000x PPE depending on when you look.

 

[compile]

I'll just leave this here and highlite some key points
https://www.bloomberg.com/news/arti...-sue-to-recoup-255-million-from-troubled-firm

- Suning are being sued by creditors for $255m USD
- Suning have $4.5b USD in outstanding local and off-shore bonds due to mature this year
- Steven Zhang is the head of Suning's International division which owns Inter, but it is unknown if he will remain amid the restructuring after Suning received a $1.4b USD bailout.
- The club has a $275m USD loan from Oaktree which needs to be repaid within 3 years.

 

[Candreva Crosses]

Oh man, that avatar fucking hurts

Best part is that the colors is already right without photoshop

 

[YoramG]

Oh man, that avatar fucking hurts

Cracked me the fuck up to be honest

 

[Pimpin]

Look, I dont think Lukaku can perform the way he did with Conte. But I still think Suning are done and they will pull this shit the next few years as well. We will sell our best players to keep them servicing that insane loan deal they got.

 

[Zeila]

But why keep the club if you're gonna sell off assets? Do they believe they can ride out the storm and come out unscathed?
Each passing year my interest for the game decreases, but I keep on coming back for this team. Yh I'm into sadomasochism...

 

[DARi0]

Complaining about Suning is completely reasonable. Telling them to fuck off is perfectly okay, too.

well FUCK SUNING and whoever dictates at this moment!!!!!

Remember how they have dismantled Jiangsu FC?

According to reports in Italy, the Zhang family forced Inter directors to sell Romelu Lukaku to Chelsea and neither Beppe Marotta nor Simone Inzaghi took it too well.

According to La Gazzetta dello Sport, the club’s owners Suning, forced Inter directors to sell Lukaku for €130m as they didn’t see any improvement in the plan to reduce costs.

Inter didn’t cash in from the sale of any other player with Joao Mario, who rescinded his contract by mutual agreement to join Benfica as a free agent, while Arturo Vidal rejected a move to Flamengo and Dalbert joined Cagliari on loan.

The pink paper reports the club’s directors, including Beppe Marotta and coach Simone Inzaghi, are against Lukaku’s sale and Il Corriere dello Sport describes the new Inter tactician as ‘furious.’

The former Lazio boss had ensured Hakimi would have been the only star to leave the club in the summer, but, clearly, that won’t be the case. Il Corriere dello Sport also reports Suning’s decision to force Lukaku’s exit made Inter directors Marotta, Piero Ausilio and Dario Baccin so unhappy that some of them could decide to leave after the summer transfer window given that their contracts expire in June 2022 and they haven’t signed a contract deal yet.

Both the Rome-based paper and Tuttosport also mention that Lukaku may not be the only Inter star to leave the club as Stefan de Vrij is considering his future at the club.

 

[vex]

I really hope all three of them resign, or at least seriously threaten to. Right now it's raining, I want this shit to go to a pouring real quick.

 

[Adriano@10]

Cannot believe they did not just sell us.........
They re strapped for cash and inter would be an easy profit to make for them especially after we won the fucken scudetto.. Pretty sure we would have fetched them quite a bit more than the 300mio they paid for us why not take that money and try to fix the problems you got with your main business?

But no those fuckers decided to piss off everyone at this club from fans to management to players and the coach.
What kind of fucken strategy is this?

It s a fucken joke and a terrible sign for our club that we easily sell our stars, just watch our remaining capable players hand in transfer request once they realiz that we re back to being a shit show.

 

[.h.]

If I had to guess, I suspect they're waiting for season ticket/matchday revenue to be brought back, so our revenues boost. The difference between Inter losing 50mil a season versus a club that is roughly breaking even, from a valuation perspective, is probably substantial. And thats why we're using some of the Lukaku money to offset the termination of Nainggolan, Joao Mario, etc.

 

[Adriano@10]

If I had to guess, I suspect they're waiting for season ticket/matchday revenue to be brought back, so our revenues boost. The difference between Inter losing 50mil a season versus a club that is roughly breaking even, from a valuation perspective, is probably substantial. And thats why we're using some of the Lukaku money to offset the termination of Nainggolan, Joao Mario, etc.

meh i d argue that a club that battles for scudetto but loses 50 mio a season is probably more valuable than one that struggles to finish top 4 but breakes even.
Think of it like this if our new owner was ambitious would he not rather have hakimi and lukaku here? As in whats easier for him to put down 200 mio to lower our debt or put down 200 mio to find replacements for lukaku and hakimi?
Dont you think we ll sell slightly less season tickets cause we show 0 ambition thus far in pre season and we re loosing our biggest star?
Also again wether i have a 130 mio player in the squad or wether i have 130 mio in the bank should not make much of a difference in valuation of the club.

In the end it comes down to who the buyer is but i d argue that any buyer with ambitions would rather have a squad with lukaku and hakimi in it than one without them.
If we re talking a thohir or another suning buying us then yes they d probably prefer a club with less losses.

 

[.h.]

I think it kinda depends really.

You're certainly likely to have more buyers if you're a net profitable company - otherwise on top of investing into Inter you have to continually raise more capital, and if FFP comes back it's going to be really hard for us.

Infact it wouldnt surprise me if this is the reality - lower costs to try to get to a basic level of profitability so there are more likely buyers for the club, and then sell?

 

[Adriano@10]

I think it kinda depends really.

You're certainly likely to have more buyers if you're a net profitable company - otherwise on top of investing into Inter you have to continually raise more capital, and if FFP comes back it's going to be really hard for us.

Infact it wouldnt surprise me if this is the reality - lower costs to try to get to a basic level of profitability so there are more likely buyers for the club, and then sell?

I d agree with you if we were not talking about a football club..... How many successful clubs give a shit about profits? Bayern and thats pretty much it.
Also your revenues are closely related to the quality of your players.
Imho for most if not all these billionairs this is just an Ego game and it s all about wining few of them care about profits. Yeah theres gonna be more buyers if your club is self sustaining as there are more who can realistically afford it.
Think about it this way you think sunings or thohirs Inter woud fetch a bigger price? Quite sure it would be sunings even though we re deeper in the red.

Of course your right that it depends and the situation is not that black and white....
Then again i guess if we were any where near of being sold suning would probably double check with the buyer before making moves like selling Rom

 

[.h.]

I d agree with you if we were not talking about a football club..... How many successful clubs give a shit about profits? Bayern and thats pretty much it.
Also your revenues are closely related to the quality of your players.
Imho for most if not all these billionairs this is just an Ego game and it s all about wining few of them care about profits. Yeah theres gonna be more buyers if your club is self sustaining as there are more who can realistically afford it.
Think about it this way you think sunings or thohirs Inter woud fetch a bigger price? Quite sure it would be sunings even though we re deeper in the red.

Of course your right that it depends and the situation is not that black and white....
Then again i guess if we were any where near of being sold suning would probably double check with the buyer before making moves like selling Rom

I think there's a difference between opex profitable and capex profitable for clubs. On a recurring cashflow basis, being profitable is *really* important, e.g. FFP. If you wish to go and spend all your profit in exceptionals (e.g. transfer fees), that's not an issue.

We're opex loss making right now.

 

[Il Drago]

If I had to guess, I suspect they're waiting for season ticket/matchday revenue to be brought back, so our revenues boost. The difference between Inter losing 50mil a season versus a club that is roughly breaking even, from a valuation perspective, is probably substantial. And thats why we're using some of the Lukaku money to offset the termination of Nainggolan, Joao Mario, etc.

Or they counted on Super League money to gain time and wait for anyone willing to meet their demands. The talks with BC Partners had ended around March.