Chinese electronics retailer Suning Commerce Group Co Ltd is buying nearly 70% of Inter Milan for a sum reported to be around 270 million euros. So far, this is the highest-profile takeover so far of a European team by a Chinese firm.
Zhang Jindong, Suning’s chairman, described the acquisition of the Italian club as a major achievement in the Chinese football history, and called China “Inter Milan’s second home”.
Its known that the Chinese President Xi Jinping is a major supporter of the sport and Suning’s deal to take over majority control at Inter Milan is the latest step in a bigger plan to create a global sports empire which would stretch from clubs to online broadcasting.