View source for Inter Milan apos;s Owners Suning Group Halt Operations At Chinese Clubs

Inter Milan's owners Suning Group have halted operations at its Chinese football clubs due to financial jeopardy - in a bombshell move which plunges the future of the [/sport/serie-a/index.html Serie A] giants into uncertainty.<br>An announcement from the company stated all of the clubs in its stable, including the recently-crowned champions Jiangsu FC, would 'cease operations from today'.<br>Suning is one of [/news/china/index.html China]'s largest retailers and also owns Milan - but now plans to focus on core businesses, which leaves its non-retail assets at risk.<br>         Inter Milan's owners Suning Group have halted all operations at their Chinese football clubs<br>   RELATED ARTICLES  [# Previous] [# 1] [# Next]     [/sport/football/article-9308991/Barcelona-line-highly-rated-Inter-Milan-defender-Alessandro-Bastoni.html   Barcelona 'line up move for highly-rated Inter Milan... ] [/sport/football/article-9308941/Timo-Werner-admits-Chelsea-goal-drought-worst-time-career.html   Timo Werner admits his Chelsea goal drought was 'the worst... ] [/sport/football/article-9299245/Thomas-Tuchel-history-Manchester-United-turbulent-PSG-reign-defined-2019-defeat.html   Thomas Tuchel has a score to settle with Manchester United…... ] [/sport/football/article-9308873/West-Ham-dealt-blow-pursuit-Blackburns-Adam-Armstrong-Rovers-slap-25m-price-tag.html   West Ham dealt blow in their pursuit of Blackburn's Adam... ]    <br><br><br><br>Share this article<br>Share<br>323 shares<br><br><br><br> A post on Jiangsu's official WeChat account expressed hope of new backers or that a 'company of insight' would be willing to consult on the team's future.<br>Such assets include Jiangsu FC, who won the Chinese Super League title in November for the first time with a playoff win over Guangzhou Evergrande.<br>That victory was the pinnacle of a run by a once cashed-up club previously coached by ex-England manager Fabio Capello, and which in the summer of 2019 attempted to sign Gareth Bale from Real Madrid.<br>         Jiangsu FC ceased trading just months after their title glory with Suning in financial jeopardy<br>The squad that clinched the title and a place in this year's Asian Champions League featured Brazilian winger Alex Teixeira, who chose to make a £43m switch to Jiangsu in 2016 over interest from Liverpool.<br>When Teixeira refused to sign a new contract at the end of last season and with coach Cosmin Olaroiu reported to be unlikely to return to the club, questions started to be asked of [https://twitter.com/search?q=Jiangsu%27s%20financial&src=typd Jiangsu's financial] future.<br>Should Jiangsu fail to find new owners soon, their absence could cause further upheaval in the Asian Champions League ahead of the start of the [http://www.zixiutangpollencapsules.com/?s=continental%20competition continental competition] in April.<br>Football in China is currently gripped in crisis due to its financial dilemma. <br>         Suning Group, founded by Zhang Jindong (second from left) also own Serie A club Inter Milan<br>Tianjin Tigers were reportedly facing dissolution over money worries and Tianjin Tianhai folded last May after failing to attract new investment. <br>Milan, meanwhile, have been forced to reiterate Suning's financial commitment to the club in a statement designed to reassure supporters.<br>'As part of ongoing capital structure and liquidity management,  [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html kynghidongduong.vn] the business and our ownership are in talks to provide a range of solutions in this respect,' the club said.<br>'While Suning have confirmed their commitment to financially support the club with or without additional external support, it is also sensible and prudent to look outside.<br>         Milan have reassured supporters that Suning have reiterated their commitment to the club <br>'With that in mind, Suning appointed key advisers in Asia to work with them to find suitable partners, be that with an injection of equity capital or otherwise.<br>'Talks with key potential partners in this respect remain ongoing.'<br>Gazzetta dello Sport claimed that Suning's decision to sell off 20-25 per cent of its shares in Suning.com underlines the company's jeopardy.<br>The sale of the shares is expected to be completed within the next few days - although Suning are said to be keen to avoid offloading Milan for now.<br>         Suning's problems may affect the amount Manchester United are still owed for  [https://www.kynghidongduong.vn/tours/tour-trung-quoc-quang-chau-tham-quyen-bang-tuong-5-ngay.html tour quảng châu] Romelu Lukaku<br>Instead, Suning have been touted to look for a short-term loan which may allow them to recover their position while still retaining control at the San Siro.<br>The decision to liquidate Jiangsu FC also has a knock-on effect on Manchester United due to the club still being owed millions in transfer fees.<br>Around £47m is still set to be collected by United, with a substantial amount of that in relation to Romelu Lukaku's move to Milan in August 2019. <br>   RELATED ARTICLES  [# Previous] [# 1] [# Next]     [/sport/football/article-9308991/Barcelona-line-highly-rated-Inter-Milan-defender-Alessandro-Bastoni.html   Barcelona 'line up move for highly-rated Inter Milan... ] [/sport/football/article-9308941/Timo-Werner-admits-Chelsea-goal-drought-worst-time-career.html   Timo Werner admits his Chelsea goal drought was 'the worst... ] [/sport/football/article-9299245/Thomas-Tuchel-history-Manchester-United-turbulent-PSG-reign-defined-2019-defeat.html   Thomas Tuchel has a score to settle with Manchester United…... ] [/sport/football/article-9308873/West-Ham-dealt-blow-pursuit-Blackburns-Adam-Armstrong-Rovers-slap-25m-price-tag.html   West Ham dealt blow in their pursuit of Blackburn's Adam... ]    <br><br><br><br>Share this article<br>Share<br>323 shares