LionRock Capital, already a partner of Suning Sports, reportedly planning to buy Thohir's 31% and build new stadium in San Siro area
From Jakarta to Hong Kong, under the supervision of Nanjing. Almost a third of Inter will move from an Asian megalopolis to another. The 31% of Erick Thohir is about to change hands and we are at the final stage. Suning has found a new partner, which could give a new and exciting acceleration to the growing process of Inter, especially the stadium. This new investor comes from the Special Administrative Region of China and all indications and clues lead to LionRock Capital.
This is an investment fund based in Hong Kong founded in 2011 by Daniel Kar Keung Tseung, a Sino-American businessman born in 1971, studied in the United States at Princeton and Harvard and already has 25 years of experience in the business world in the Chinese and Southeast Asia region. LionRock Capital invest primarily in sports, e-commerce, food and medical sectors (but in their portfolio, there are also an online taxi startup and a real estate company in Jangsu) and self-describes as a company that aims to “establish long-term relationships and able to create value” with management of those which it invests in.
LionRock already has an important partner with Suning Sports, the sport branch of Zhang’s creation. This relationship with boss Jindong seems to be solid and profitable and Inter are the new step in this partnership. The investment of LionRock should be around €150M. There is great harmony between these two companies with which they can make long-term plans that could soon unlock new phase of growth. The project on top of their list seems to be the stadium: already in the month of February, the club intends to take decisive steps in this direction.
The current and preferable is no longer fixing up the San Siro, but to build a brand new stadium in the same area. Adding a modern facility has always been one of the indications of Steven Zhang, president since October 26th. He once again reaffirmed the ambitious projects at the Suning convention ongoing in Nanjing: “I want to realize the dream of millions of Inter fans: to return to the top of Europe. And at the same time demonstrate through this team’s success the vision and ability of modern Chinese companies internationally.”
This meeting is to celebrate a positive year for his father’s company: in a year of shrinking growth for the Chinese economy, Suning exceeded its objective and opened 8000 new stores. Jindong celebrated the company’s success by announcing that he wanted to “rejuvenate” management. He also celebrated Inter: “We are back to the limelight. In less than two years, we achieved what the fans dreamed of in six years: the return to the Champions League. Inter are building a new period of glory.” The new partner, another “Lion”, just like the logo of Suning, will help Inter to roar even louder.