NEWS
Thursday August 2 2012
Chinese to build new Inter ground

The China Railway Construction Corporation are new minority shareholders in Inter and will help the club build a new stadium.

The Nerazzurri confirmed the sale of shares to the Chinese group via a statement released on their website, detailing that whilst President Massimo Moratti remains as the majority shareholder in the club, China Railway Construction Corporation are now second largest shareholders.

Their arrival looks to have a specific purpose, with the immediate announcement of plans to build a new stadium for the club inside five years.

“Internazionale Holding S.r.l. announce today that it has reached an agreement that provides for the entry of a group of Chinese investors of capital in FC Internazionale Milano SpA,” read the posting on Inter’s official site.

“The Moratti family will continue to maintain control of the company, while the Chinese investors will become the second largest shareholder.

“At the same time, China Railway 15th Bureau Group Co., Ltd., a subsidiary of China Railway Construction Corporation, and FC Internazionale Milan SpA have teamed up to build a new stadium by 2017.

“In the coming months by mutual agreement areas to potentially involve will be identified and the necessary procedures for permission will be started.

“To ensure adequate representation of the new shareholders, joining the Board of Directors of FC Internazionale Milano SpA, starting from October, are Kamchi Li, Kenneth Huang and Fabrizio Rindi.”

Construction on the new ground, to replace the Stadio Giuseppe Meazza, are believed set to begin within three years.

The arrival of this investment is being seen as another step by the club towards complying with Financial Fair Play.

“I am extremely happy with this agreement, because the new stadium was a project I have had in mind for some time and now it can become something concrete,” commented Moratti upon announcement of the news.

Think you know your Italian football? Share your knowledge, tips and comments to win cash prizes in OLBG's World Cup tipster competition - £10,000 to be won!

FOOTBALL ITALIA RELATED NEWS

TODAY'S FRONT PAGES