NEWS
Saturday October 29 2016
Thohir got €131.6m Inter interest

Inter President Erick Thohir seems to have pocketed €131.6m interest for the money he put into the club coffers.

The former majority shareholder sold a chunk of his stock to Suning Group, the Chinese conglomerate that took over the Serie A side.

After yesterday’s shareholders’ meeting, La Gazzetta dello Sport looked through the financial documents and found an interesting quirk.

At the moment of selling his shares to Suning, Thohir received €131.6m in ‘financing and matured interest.’

This suggests he took home somewhere between 8 and 9.5 per cent interest on the money he used to increase the capital, effectively loaning it to Inter.

La Gazzetta dello Sport claim the original agreement was to leave that interest in the club coffers.

It raises questions over Suning’s investment, as the €180m refinancing deal is backed by a 7.7 per cent interest rate.

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