FC Inter CEO is consolidating talks with private equity funds across Stake’s majority

In just a few months, Italian soccer giant FC Inter could be under new ownership after less than 5 years.

According to several Italian media, British private equity investment fund BC Partners

BGCP
going on with negotiations for a minority or perhaps even a majority part in the Nerazzurri.

On Wednesday, Inter FC Chief Giuseppe Marotta surprisingly confirmed what it was like to be just a rumor circulating since last December.

“The owners are considering the opportunities for Inter’s interest and the club’s history,” Marotta told Radio Rai after the Coppa Italia match against Fiorentina, which Antonio Conte’s men won with a goal. last minute injury time. by Belgian striker Romelu Lukaku.

The news came as a shock to FC Inter fans, who have only seen four and a half years of change in governance when former president Steven Zhang bought a majority stake from Indonesian tycoon Erick Thohir.

The fan base is concerned that the current owner – Chinese e-commerce giant Suning Holding Group – could suddenly reduce their investment and participation in the club at the expense of sports products.

While Marotta tried to reassure the fans that there is a “strong context” and that “these rumors cannot affect” the team, it is clear that Suning seeks new investment in FC Inter.

According to Italian daily Il Messaggero, the main reason behind this move must be identified by the recent change in economic planning made by the Chinese government.

Beijing appears to be focusing more on the domestic market and domestic demands and plans to curb foreign investment, especially in sectors not considered essential for expanding China’s influence in the West , as football.

As a result, the chances of changing ownership before the end of the season are increasing with each passing day.

Together with the Asian division of investment bank Goldman Sachs

GS
, BC Partners are promptly doing due diligence on FC Inter accounts, so much so that there is hope for an offer within a month or two – which may not be just for a minority, says Italian newspaper Corriere della Sera.

The Milan-based club’s ownership is currently split between Chinese e-commerce giants Suning Holding Group (which controls a major shareholder with 68.55%) along with Hong Kongese venture capital LionRock Group , which currently has a share of 31.05%.

According to Il Corriere dello Sport, a spectacular board of directors meeting will be held on Thursday, with President Steven Zhang taking part away from China.

After due diligence the value of the club, valued at approximately $ 1.25 billion, will be assessed, a price that must certainly be taken into account in the general financial crisis caused by the COVID pandemic. -19, the report continues.

In addition, Suning will be looking to refinance two bonds worth $ 456 million each coming out in 2022, which could play a decisive role in price appraisal.

If BC partners were to become new majority stakeholders, the project for FC Inter would involve the establishment of a media company that would allow the club to enhance the version with a particular focus on TV rights, found a new main sponsor, a new stadium and merchandising, claims Italian business newspaper Il Sole 24 Ore.

BC Partners is a British private equity fund specializing in technology, media and communications. The fund evaluates entrepreneurial groups and evaluates them for investment.

Despite ongoing talks, it remains to be seen whether and to what extent Suning’s ownership will accept BC Partners’ offer, as FC 2 president Zhang rejected Zhang around on the rumors surrounding the compromise through an official statement on the team website.

“With regard to the rumors reported today, referring in particular to FC Internazionale Milano’s ability to sell, President Steven Zhang strongly denies the allegations and confirms that they are completely unfounded ”.

However, the statement was issued by Steven Zhang and not by the father of Zhang Jindong, chairman of Suning Holding Group.

So there may be some disagreement in the family regarding whether to approve BC Partners as a partner or sell most of the promises outright, Il Sole 24 Ore monitors .

Meanwhile, FC Inter tifosi one can only hope that the talks will not jeopardize the team ‘s performance, as some fear that the new owner could supersede the club’ s senior Beppe Marotta, Alessandro Antonello, and head coaches Antonio Conte.