Whenever the ground share idea crops up, there are always people who point to AC Milan and Inter as an example of how it can work but it seems the latter can't wait to get their own ground:
China Railway Construction Corp. agreed to buy a 15 percent stake in Italian soccer team Inter Milan from the Moratti family, valuing the club at 500 million euros ($611 million), according to two people familiar with the talks.
The transaction would include debt from the 18-time Italian soccer champion, said the people, who declined to be identified because the negotiations are private. QSL Sports Ltd., based in Hong Kong, will also be part of China Railway’s investment group, the people said.
Inter President Massimo Moratti has been seeking an investor for several months to help bolster the club’s finances, newspapers including Corriere della Sera have reported. The team won the Europe’s Champions League, Italy’s Serie A and the Italian Cup two years ago. It failed to qualify for the European Cup this season and instead is playing in the less prestigious Europa League after finishing in sixth place in Italy’s top division.
Inter Milan confirmed the sale, saying China Railway Construction Corp. will become the company’s second-biggest shareholder in a statement on the soccer team’s website. The company didn’t disclose financial terms.
As part of the agreement, Inter Milan plans to build a new stadium in the Italian financial capital by 2015, said the second person. Inter currently shares the San Siro stadium with crosstown rival AC Milan, which is owned by the family of former Italian Prime Minister Silvio Berlusconi.
The new facility will be 2.5 kilometers from the Giuseppe Meazza arena on the site of the 2016 Milan Expo, and will seat 60,000 people, the person said. It has municipal planning approval, and won’t be shared with AC Milan, the person said.
The Morattis also own Saras SpA, the biggest refiner in the Mediterranean region. Inter’s main sponsor is tiremaker Pirelli & C. SpA.
UBS AG advised China Railway while Lazard advised the Moratti family. http://www.bloomberg.com/news/2012-08-01/inter-said-close-to-stake-sale-to-china-rail-construction.html