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Lawyer Pierfilippo Capello, son of the well-known coach, at Sportitalia he spoke about Inter and the corporate issue.
-Is Inter changing ownership?
The object of the financial transaction is not Inter, but the Holding within which are the club’s shares along with other shares of other Suning companies. The group has used the shares of this holding company, which controls many activities, for which is unknown, but has compromised them. The person who has the majority of the Nerazzurri club in his belly was engaged to a bank headed by Jack Ma for a financing operation. The Chinese group is huge and very powerful, but it has high operating costs. We got involved in that when dad coached his club in China. When you’re in trouble and business slows down, you need cash.
-The speech of the government that blocked real investments?
Yes, the Chinese government has blocked investments in soccer. First, it prevented raising capital to invest in the ball. Previously, the Chinese brought capital to Europe. Now, to finance a team, the money round is more complicated. You have to borrow money in Europe with the guarantee of what you have in China. With the guarantee of other assets that you have outside of China but that are controlled in China. That is why triangulations are constructed. The pledge was made on the shares of the Suning group company that controls many different activities in which Inter is also involved. Indirectly, the garment is also deposited with Inter. There is also a general interest of various international players, investment funds, in Italian football clubs. At the moment, the rating of football clubs is disproportionate: there is a gap between the real value and the market value. With a billion, you buy a lower-middle-range team in England. With the same amount you buy a great club in Italy. Furthermore, Inter and Milan are about to invest in a stadium. It is interesting to see that the Americans are investing in Italy. Instead, the Arabs, the Chinese, traditionally go in search of the trophy asset, you buy something that is beautiful to see. You are rich and you buy the London team. Whether you win or not remains to be seen. Americans make different investments that have a return. Investments by Americans attract the interest of large investment funds in Italian football.
-If Jack Ma takes the shares as a pledge, who continues to invest in Inter?
At this time the Holding. The owner of the holding company will be responsible for financing the club.
(Source: SI)
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