The Chinese owners of Inter Milan are rushing to raise at least $200m in emergency cash, after the Italian football club’s finances deteriorated due to the pandemic and heavy spending on top players.
Suning Holdings, the retail conglomerate that owns a majority stake in the Serie A team, is seeking new investment by the end of the year in response to a financial crisis at the club, according to three people familiar with its finances.
Suning’s challenges with Inter Milan comes as the retailer, which is backed by Jack Ma’s Alibaba, faces questions over its heavy debt burden in China.
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