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Suning

All articles tagged with #suning

sports-business1 year ago•10 min saved

Inter Milan's Ownership Crisis: Oaktree Capital Takes Control

After Inter Milan's president, Steven Zhang, lost control of the club due to financial troubles, Oaktree, a U.S. asset management firm, took over ownership. Zhang's family business, Suning, had been struggling financially, leading to a €395 million debt owed to Oaktree. The new owners are committed to the long-term success of the club and plan to work closely with the existing management team to ensure operational and financial stability. Inter Milan's value and financial situation present significant challenges for the new owners, but they aim to build on the club's recent success and develop a clear path for consistent growth and success.

via The New York Times|

#financial-crisis #inter-milan #oaktree

sports2 years ago•8 min saved

"Champions League Final: Inter Milan and Man City Face High Stakes"

Inter Milan, with Italy's oldest squad and highest debts, faces Manchester City in the Champions League final. The team's success cannot stop the financial squeeze to come, as the club is the most indebted in Italy, with total liabilities of around $931 million. Inter's owner, Suning, has been engaged in efforts to cut costs, and the club's future is uncertain. Several parties have expressed interest in buying the club, but nobody has yet been willing to pay the $1.2 billion valuation. Inter arrives in the final battered and bruised, with a chance of glory in the immediate present, but its future remains uncertain.

via The New York Times|

#champions-league #financial-troubles #future