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SBD Global/November 18, 2013/Franchises

Erick Thohir, Partners Complete Purchase Of Stake In Serie A Club Inter Milan

MLS DC United co-Owner and NBA Philadelphia 76ers investor Erick Thohir and his partners completed their purchase of a 70% stake in Serie A club Inter Milan. Thohir, Rosan Roeslani and Handy Soetedjo, who form Int'l Sports Capital, take over as the majority stakeholders. Inner Circle Sports was the financial advisor to Thohir, while Jones Day served as the legal team and Ernst & Young was the accounting advisor (Christopher Botta, SBD). REUTERS' Stephen Jewkes reported Thohir "has been appointed" as Inter Milan chairman, the club said on Friday as former Owner Massimo Moratti's 18-year reign "came to an end." In a statement, Inter said that its shareholders "had named a new slimmer eight-member board of directors headed by Thohir, adding that Moratti had been appointed honorary chairman." The Int'l Sports Capital consortium owned by Thohir and his two Indonesian partners paid €75M ($101M) and "took on all of Inter Milan's debt" of about €180M ($242M) in exchange for a 70% stake in the club (REUTERS, 11/15). SKY SPORTS reported Moratti was named "honorary chairman." Thohir: "I really want to thank my friend and new partner Massimo Moratti for the trust and support, and thank also my partners Rosan and Handy, who I've known for more than 20 years." Moratti believes Int'l Sports Capital is a company "that can add to Inter's success." Moratti: "I am convinced they are more than equipped to keep on adding new successes to our beloved colors. Personally I feel honored I have been the President of Inter for so many years" (SKY SPORTS, 11/15).

THE WELCOME MAT: Thohir "immersed himself" in the Inter Milan Nerazzurro on Saturday, taking in his first game as owner, a friendly against Chiasso. Thohir joined the fans in jumping and chanting "Chi non salta rossonero è" (If you don't jump you're Rossonero), and bowed to the fans in the Inter "curva." The fans unfurled banners hailing the new owner and praising Moratti (LA GAZZETTA DELLO SPORT, 11/16).
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