Chinese retail giant Suning reveals plans for a ‘soccer empire’ as Inter Milan purchase nears
Suning Commerce Group Co Ltd is set to tie up a deal for the Italian giants and ahs revealed details of a larger strategy
Chinese retail giant Suning Commerce Group Co Ltd, set to tie up a deal for Italian soccer club Inter Milan, is already eyeing bigger ambitions: controlling a global sports empire stretching from soccer clubs to online broadcasting.
I wouldn’t be surprised to see more investments into the game from Suning in the near future, as it looks to piece together assets in various key areas of the business
Suning and Inter Milan are due to make an announcement in Nanjing today, widely expected to confirm that Suning will buy a majority stake in the Italian soccer club.
Amid a wider push by China to increase its standing in the game, Suning’s deal for the 2010 European champions is just the start.
The Chinese electronics retailer is seeking deals to help create a global sporting “ecosystem”, according to a Suning Sports Group document.
This network would include club ownership, sports media rights, player agencies, training institutions, broadcast platforms, content production and sports-related e-commerce, the document shows.
A majority stake in Inter Milan would be a big step towards this. It would be a watershed moment for China’s investment in the game, making Suning the first mainland Chinese business to control a major European soccer power.