Inter Milan for sale with reported $1B price tag
Inter Milan is the latest soccer club to land on the market.
The Raine Group, the bank that handled the $5.2 billion sale of Chelsea, will begin searching for a buyer for the Serie A club with Goldman Sachs, according to the Financial Times.
Some reports suggest the current owners have a $1 billion asking price — the same figure at which Forbes last valued the club.
Suning Holdings purchased a majority stake in the team in 2016 for $306 million but has struggled financially – it recorded a $6.6 billion loss for 2021.
In February 2021, Suning received a $275 million loan from Oaktree Capital. Suning secured a $1.36 billion bailout from the local government and Alibaba in July 2021.
Last year, Suning injected a shareholder loan of $71.8 million into Inter and is reportedly set to add another $95.7 million to “add more breathing room to the budget.”
Last month, the club reported $420.7 million in revenue for the 2021-22 financial year. In its earnings announcement, Inter claimed its majority shareholder is committed to “backing the group by ensuring asset support.”
Although an announcement has yet to be made, eBay is reportedly the club’s new official marketplace through the 2023-24 season.
The company will launch an Inter store with original products, and its logo has already appeared on its women’s team jerseys and LED advertising over the past few weeks.
