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Inter Milan CEO Michael Bolingbroke said that Chinese investment in European football "is no short-term phenomenon" and the opportunities it offers for the continent’s clubs are "extraordinary," according to Mitch Phillips of REUTERS. Inter is one of the "latest big names to come under Chinese ownership." Chinese corporation Suning Holdings bought a majority stake in Inter in June, the first Serie A club to come under Chinese ownership. Bolingbroke: "There is definitely an environment that encourages investment in soccer now. There is a big drive for health in China and soccer is one of the favorite sports of the president. China needs know-how, so they can run leagues as successfully as we do, while in return the opportunities for clubs are enormous." Inter is "about to open an office in the Nanjing," a city of over 8 million people and HQ of Suning, and will employ 12 staff. Bolingbroke: "We needed a Chinese partner to give us access to what is a vast market." While Inter and others "are reaping immediate benefits from Chinese investment, already seen in the club’s transfer spending, China’s eye is also on the long game." Bolingbroke added, "The President has said they want to host the World Cup in 2030 and win it in 2050 -- there aren’t many countries looking that far ahead" (
REUTERS, 10/5).
