Chinese appliance retailer Suning Commerce Group is poised to acquire a majority stake in Italian football club Inter Milan, in the latest foray into European sport by a big Chinese company.
The retailer is already active in domestic Chinese football. Within a two-week period in January, Jiangsu Suning Football Club acquired Chelsea’s Brazilian midfielder Ramires for €28m ($32m) and Brazil’s Alex Texeira from Liverpool for €50m. Both were records for the Chinese Super League at the time. Suning also signed a three-year sponsorship deal with FC Barcelona in 2014.
“I think this co-operation is important because Suning set up a bridge between China and one of the most renowned clubs in Italy,” Cai Zhenhua, head of the Chinese Football Association, said on Sunday.