While Suning have put Inter up for sale, their other football club Jiangsu FC could be dissolved entirely if someone doesn’t buy it for one penny plus debts.
Suning Group have been very clear that they are in serious financial trouble following the pandemic and need to cut down on anything other than their basic retail businesses.
This includes their football clubs, which are continuing to lose money.
Inter are up for sale and in negotiations with BC Partners, among others, along with options to refinance their debts.
Now reports in China via Titan Sports Plus and Soccer News claim that Jiangsu FC (formerly known as Jiangsu Suning) is not only up for sale, but could be disbanded entirely.
That’s because the club has 500m Yen in debt (approximately €63.77m), most of which represents unpaid salaries.
It’s reported the club could be sold for just one penny if someone is also prepared to take on the full extent of the debt.
If a buyer cannot be found even at those conditions, then the club could be simply liquidated.