A person with knowledge of the talks said that China's Suning Commerce Group is leading the race to buy U.K.-based Stellar Group, one of the world's leading football agencies, "even as the retail giant is set to also invest in Italian club Inter Milan," according to Adam Jourdan of REUTERS. At least "four Chinese investor groups, including model car maker Rastar," were interested in buying Stellar, which has masterminded some of football's biggest transfers including Wales int'l Gareth Bale's record £86M ($126M) move to Real Madrid.
Other Chinese suitors for Stellar, which could fetch around 900M yuan ($136.6M), include property developer Evergrande Group and private investors, according to the person and documents. Headed by entrepreneur Zhang Jindong, Suning is one of China's biggest private firms, with annual revenue topping $20B. It owns local club Jiangsu Suning and is "closing in on a deal to buy into Inter Milan." One source said that a deal could be announced "as early as this weekend." Inter is now majority-owned by a group led by Indonesia's Erick Thohir. Suning "declined to comment." Calls to Evergrande "went unanswered." Rastar "had no immediate comment." Stellar Founder Jonathan Barnett, one the sport's leading power brokers, "was recently in China meeting potential suitors," said the person, who did not want to be named as the negotiations have not been made public (REUTERS, 6/1).
ITALIAN TASTE: REUTERS' Jewkes & Jourdan reported Inter Milan" is the second Serie A football club to attract Chinese interest," as Beijing pushes to turn the country into a football force.
An acquisition of Inter Milan "would add to a growing stable" of Chinese-owned football assets worldwide, including a stake in the group that owns clubs such as England's Man City and NYC FC, and recently English club Aston Villa.
A second source said talks with the Chinese conglomerate were ongoing, adding Suning's final stake "could be much larger" than an originally mooted 20% (REUTERS, 6/1).
ON TRACK: TRIBAL FOOTBALL wrote former Inter Milan President Massimo Moratti said that the Suning Group "will complete their investment in 'a month.'" Moratti had agreed to sell all 30% of his stake in the club and Thohir another 30% to Chinese investors Suning Group. Moratti: “I think they are talking and I have no news, so we're still at the old discussion for 20 percent. If someone wants to buy everything, we can reach a solution, including the evaluation of the club. Other than that, there's no news. I read that story that I was ready to walk away, but no decision has been made yet. Would I sell the shares? I don't know, we'd have to see the conditions" (TRIBAL FOOTBALL, 5/31).
