Chinese take big stake in Inter Milan
Inter Milan have reached an agreement for Chinese investors to become their second largest group of shareholders and invest in a new stadium.
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Club president Massimo Moratti will retain overall control, with a subsidiary of construction company China Railway set to provide its engineering expertise and investment for a new arena - which should be completed by 2017 - and help promote the brand in Asia.
"Internazionale Holding Srl announces that it has reached an agreement which envisages the acquisition of a stake in FC Internazionale SpA by a group of Chinese investors," a club statement read.
"The Moratti family will keep the control of the company, while the group of Chinese investors will became the second largest shareholder.
"At the same time China Railway 15th Bureau Group Co Ltd, a company controlled by China Railway Construction Corporation, and FC Internazionale SpA have started a joint effort for the construction of a new proprietary stadium expected to be completed by 2017.
"In the upcoming months the parties will jointly select the potentially suitable locations, define the project team and start the filing process to obtain the required authorisations."
The deal has been done with the aim of Inter "expanding its presence in the Asian markets to raise new resources for the enhancement of its international future development and winning perspectives".
Moratti told Sky Sport 24: "In China, Indonesia, in all these places... there are many fans and we believe that this agreement could have multiple benefits from this point of view and that makes me very happy.
"It will be an important statement commercially, given the number of fans and the level of interest in that region."