A group called Chinese retailer Suning Holdings Group have announced they will take a majority control of Inter

A group called Chinese retailer Suning Holdings Group have announced they will take a majority control of Inter. The Chinese group has purchased a 70 percent stake in the club from Erick Thohir, who became majority shareholder and president of Inter in 2013, for a reported fee of €270million.

The deal was announced on Sunday via the social media pages of Super League outfit Jiangsu Suning before confirmation of the deal came at a news conference held on Monday.

The chairman of the group Zhang Jidong welcomed the deal as a watershed moment for a growing football market in China.

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