Chinese group takes majority stake in Inter Milan
Chinese appliance retailer Suning Commerce Group has agreed to pay €270m for a 70 per cent stake in Inter Milan. The retailer is already active in domestic Chinese football.
Ex-owner , Indonesian businessman Erick Thohir, remains as president with a reduced stake of 31 per cent. The club is thus entirely in foreign hands for the first time.
'Suning will inject a steady stream of capital investment in Inter Milan, which will help attract more talented players,' said chairman Zhang Jindong.
AC Milan is expected to be bought by a Chinese consortium in the next couple of weeks.
Chinese investors are eager to acquire a Premiership club, having recently been disappointed at Swansea City.