Suning Acquires Inter Milan Football Club for 270 Million Euros

Suning Acquires Inter Milan Football Club for 270 Million Euros
Jul 19, 2016 By eChinacities.com

Suning Commerce Group announced that they have purchased Italian football club Inter Milan in a deal worth 270 million euros (about 2.01 billion yuan).

Inter Milan’s rival AC Milan will also reportedly be acquired by a Chinese buyer. Jack Ma, Baidu, and other major Chinese players have been rumored to have made bids for the team.

CCTV2 Financial Channel’s program Global Financial Connection announced that Baidu CEO Robin Li is in negotiations to purchase AC Milan to $437 million (about 2.92 billion yuan). Baidu has since denied the rumor.

AC Milan and Inter Milan are both based in the same city and are famous rivals. The clubs were founded in 1899 and 1998 respectively, and both have a number of fans in China.

Source: inews.qq.com

Warning:The use of any news and articles published on eChinacities.com without written permission from eChinacities.com constitutes copyright infringement, and legal action can be taken.

Keywords: nter Milan AC Milan Suning

1 Comments

All comments are subject to moderation by eChinacities.com staff. Because we wish to encourage healthy and productive dialogue we ask that all comments remain polite, free of profanity or name calling, and relevant to the original post and subsequent discussion. Comments will not be deleted because of the viewpoints they express, only if the mode of expression itself is inappropriate.

miguel82

the article is incomplete, they bought 70% of the club. Suning Holdings has agreed to pay €270m ($307m) for a 70 per cent stake in Italian football club Inter Milan, in the latest foray into European sport by a big Chinese company.

Jul 21, 2016 09:19 Report Abuse