Chiense shadows in the Premier League: the inquiry that threatens Milan and Inter
Suning completed Inter’s takeover at the beginning of the summer. We know their names and their faces, we basically know everything about them, and we know who they are. The same, however, can’t be said about AC Milan’s new owners.
What we know so far is that a new found has been created to acquire a majority stake in the club. The consortium that will control AC Milan is composed by some unnamed Chinese entrepreneurs backed by Beijing’s government. It is still unknown, however, who these people are. We don’t know their identities yet.
This is the same problem that the Premier League has. British authorities are checking all financial transactions involving Chinese investors who are entering the business of the Premier League.
What British authorities fear is a conflict of interest. In order to avoid match-fixing scandals, multiple ownerships are avoided in England. One single person or group can put money in more than a club only if he or it owns the 10% stake, not more than that as it would give them too much power within too many clubs.
This might not be happening right now as Beijing’s government backs many compatriots who are doing business in English football.
Manchester City, Aston Villa, Wolves and WBA are partially owned by Chinese consortiums and authorities are now keeping a close eye on Hull City which is reportedly a matter of interest of new Chinese investors, whilst a Hong Kong-based group is considering acquiring majority shares in Liverpool.
English authorities are trying to clarify multiple situations involving football and Chinese investors, the same thing that should be done in Italy, but will the Italian FA be as scrupulous?
