Inter Milan president says Serie A club is not for sale

An iconic Italian football club will not hit the market after speculation of a $1 billion sale.

Inter Milan president Steven Zhang said the Serie A club was not seeking investors after reports claimed global commercial bank The Raine Group was looking for a buyer for Goldman Sachs.

“The future of the club and my group’s long-term commitment to the company have always been clear,” Zhang said.

In May 2022, Inter was valued at $1 billion, according to Forbes, ranking 15th, just behind rivals AC Milan ($1.2 billion).

It has $412.2 million in junk-rated bonds due in 2027 from its media arm.

In 2016, Suning Holdings Group — owned by Chinese businessman and billionaire Zhang Jindong — bought a nearly 70% stake in the club for $306 million, but its sister company, Chinese electronics retailer, struggled to do so. report a loss of $6.6 billion. to 2021.

In September, Inter reported US$420.7 million in revenue for the 2021-22 fiscal year – an increase of US$71.8 million compared to the previous year.

It won its eighth Coppa Italia and sixth Supercoppa Italiana during the 2021-22 season and recorded a loss of $139 million, down from $235.1 million in 2020-21.

Investor interest
Brondby, one of Denmark’s most successful football clubs, reportedly received an offer from US investor Global Football Holdings for a majority stake – just over 50% – worth approximately $42 million.

The offer included a $30 million loan from Global Football.

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