AC Milan and Serie A champions Inter 'put up for sale' by owners who will accept 'first suitable offer'

AC Milan and Serie A champions Inter 'put up for sale' by owners who will accept 'first suitable offer'

SERIE A giants AC Milan and Inter are both up for sale on a first-come, first-served basis, according to reports in Italy.

The clubs have each changed hands multiple times in recent years and have struggled to secure their finances, despite a resurgence on the pitch.

Inter owners Suning have experienced an economic crisis lately, amid the decline of their retail empire and restrictions on Chinese companies investing outside of the country.

Antonio Conte quit the Nerazzurri when their Scudetto triumph of last season was met with a tightening of the club's finances, leading to the sales of Achraf Hakimi and Romelu Lukaku.

According to journalist Carlo Festa of Italian financial newspaper Il Sole 24 Ore, Inter's valuation has dropped from £850m to around £511m with the collapse of the European Super League concept.

And Suning will therefore entertain any 'suitable' offer that clears the club's debts.

Complicating the deal somewhat is the £234m investment made by US investment firm Oaktree in May, which handed over a 31 per cent stake in Inter.

As for AC Milan, it is claimed that the San Siro outfit are free of debt but still making significant losses.

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Former chairman Li Yonghong had leveraged his stake in the club in exchange for a £258m loan from Elliott Management Corporation, which helped him secure the Rossoneri in 2017.

However, within a year the Chinese businessman defaulted on his repayments and Elliott took control of the club.

Having put in around £600m to keep Milan on a steady footing and push the team back into the Champions League, the fund are reportedly ready to sell.

It is said that offers starting at that £600m mark will be heard.

Milan finished second in Serie A last season and have invested heavily in the market this summer.

Fikayo Tomori, Sandro Tonali, Olivier Giroud and Mike Maignan have all arrived for a combined fee of £45m.

However, Gianluigi Donnarumma and Hakan Calhanoglu both left on free transfers, depriving the Rossoneri of vital transfer revenue.

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