Chinese group takes stake in Inter

02 August 2012 | Posted in Sports Properties, Soccer, Europe | By James Emmett

Serie A soccer side Inter Milan has confirmed that a stake in the club has been sold to a Chinese group, which will become the second-largest shareholder.

Although no further details were given, numerous reports suggest the China Railway Construction Corp has bought a 15 per cent stake from Inter's controlling Moratti family in a deal that values the club at US$611 million.

Hong Kong-based QSL Sports, whose chairman Kenny Huang was previously involved in a failed bid for English Premier League club Liverpool, is believed to be part of the investment group.

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Although China Railway has no previous involvement in sports ownership, the company is likely to work with Inter as it makes inroads on its plans to build a new stadium 2.5km away from its current shared home, the San Siro, on the site of the 2016 Milan Expo.