Inter Suning owners converted loans worth 55 million euros into equity for Nerazzurri in recent months
Suning has invested an additional € 55million in Inter in recent months, according to a club statement released today.
The owners of the Nerazzurri have converted a series of shareholder and related party loans into equity, with the aim of alleviating Inter’s current liquidity problems.
Suning converted 30 million euros of loans to equity during the six-month period that ended on December 31 of last year, in accordance with an official press release.
They then converted an additional 25 million euros last month, combining the aforementioned total of 55 million euros.
Earlier Friday, Calcio e Finanza have revealed that Inter are missing around € 55.7million in unpaid payments from their sponsors in Asia.
It’s unclear whether Suning’s decision to convert the loans to equity was a direct response to this, or if it’s just a coincidence that the two numbers are nearly identical.
Inter is certainly notorious for being cash-strapped at the moment due to revenue losses suffered by the COVID-19 pandemic, as well as Chinese government restrictions on the export of capital to Europe.
Suning are would consider selling up to 25% in shares in their own business, Suning.com, in order to release funds.
The majority shareholders of Nerazzurri are nevertheless determined to guarantee the financial stability of Inter for the foreseeable future, as confirmed in another official statement this morning.